Fidelity will allow its 34 million customers to trade bitcoin commission-free.
Fidelity wants to cut croupiers out of traditional exchanges
The giant fund ($9.9 trillion under management) will launch Fidelity Crypto. This service will allow its customers to speculate on BTC and ETH.
We say speculation as it will not be possible to transfer your BTC from or to your own wallet. But maybe it will come if we are to believe the FAQ in the press release:
“In this first version of Fidelity Crypto, you will not be able to receive or send cryptocurrencies from or to your wallet. But we are constantly working on new features. »
While transactions with Fidelity Crypto will be free of transaction fees, a dispersion 1% will still be deducted from each transaction. The American juggernaut is therefore following in the footsteps of Robinhood and Binance, which offer the same service in the United States.
Fidelity told CNBC that a “significant part” of its customers “are interested in and already own crypto”.
Indeed, this is what emerges from its fourth annual survey of customers in a row.
It shows that 58% of respondents say they own digital assets, up from 52% last year and 22% in 2019.
Institutions are in the starting block
This study should be taken with a grain of salt, as Fidelity has been providing bitcoin information to its clients for a long time. As such, we highly recommend that you read the French translation of his report titled “Bitcoin First”.
Elsewhere, investors who believe digital assets should have a place in a portfolio remained steady at 81%.
Arcane Research believes bitcoin’s growing correlation to traditional markets explains the stagnation. 25% of respondents cited bitcoin’s low correlation to other markets as an attractive feature. They were 37% last year.
But note that the percentage of respondents preparing to invest in digital assets has increased from 71% to 74%. We even jump from 31% to 74% in the category of very wealthy Americans.
This positive opinion poll for bitcoin confirms recent increases from traditional financial giants such as BlackRock, Schwab, Citadel, BNY Mellon and Apollo.
One thing is certain, the institutions will be there when it’s time for the next one bull run will have sounded.
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Journalist reports on the Bitcoin revolution. My papers address bitcoin through geopolitical, economic and libertarian prisms.