© Reuters
Investing.com – Fidelity, the largest brokerage in the United States for retail investors, may soon offer its millions of customers to buy , according to information from the Wall Street Journal.
Investment giant Fidelity, which has more than 34.4 million retail accounts and is one of the world’s largest fund managers, is reportedly considering offering its retail customers the opportunity to invest on the largest cryptocurrency on the market.
The WSJ clarified that the company has not yet communicated about this to its customers.
Recall that Fidelity has been interested in the cryptocurrency market for some time. In April, the broker had already announced that it would launch a product allowing workers to save 20% of their retirement funds in bitcoins.
Fidelitu is also behind two new exchange-traded funds (ETFs) offering exposure to companies in the crypto and metaverse space. It has also filed with the SEC to launch a Bitcoin ETF that, if approved, would give clients direct exposure to the digital asset, unlike current futures-based Bitcoin ETFs.
Last year, Fidelity’s global macro director, Jurrien Timmer, went so far as to declare that Bitcoin had a “unique advantage over”.
“Gaining it credibility, and as a digital analogue of gold but with greater convexity, my view is that bitcoin will, over time, take more market share from gold.” he stated at the time.
Finally, it should be noted that offering direct access to Bitcoin to more than 30 million Fidelity customers could lead to an influx of new money into the crypto, and support its price. Indeed, if it is increasingly easy to buy Bitcoin, there are still technical barriers for novices who wish to invest directly in crypto.
However, the possibility of buying Bitcoin directly on the Fidelity platform would solve the problem for nearly 35 million American investors.