Fidelity to Allow Individual Clients to Trade Bitcoin

Fidelity Investments is set to allow individual clients to trade Bitcoin, according to a report by the Wall Street Journal.

Fidelity to Enable Bitcoin Trading for Individual Clients

Fidelity Investments, a leading financial services company with approximately $4.3 trillion in assets under management (AUM), is gearing up to offer Bitcoin trading to its individual customers.

In 2018, Fidelity began offering Bitcoin trading services to its institutional clients. Two years later, the company launched the Wise Origin Bitcoin Index Fund, and by May this year, investments in this fund had reached $125 million.

Earlier this year, Fidelity also proposed the idea of allowing corporate clients to include Bitcoin in their 401(k) retirement plans. However, this proposal faced swift opposition from the U.S. Department of Labor and several U.S. Senators.

This move by Fidelity comes shortly after BlackRock's collaboration with Coinbase to offer cryptocurrency trading services to institutional investors. It signals a positive development for the market’s appeal to Wall Street investors, despite the recent overall downturn in market conditions.