Bitcoin Magazine: Fidelity Opens Retail Bitcoin Trading

Fidelity, one of the leading suppliers of financial services in the world, has officially begun making retail bitcoin trading accounts available to customers.

 

This new move follows their declaration earlier this month that they will be starting a wait list. According to a report by The Block, certain users, presumably those who were on the wait list, were sent an email providing information about the release, and the subject line of the email read "The wait is over."


According to the official website of the company, Fidelity started mining bitcoin in the year 2014. This indicates that the company has been involved in the bitcoin industry for some time. In addition to this, on December of 2021, it introduced a spot bitcoin ETF in the Canadian market.

The financial services giant's interest in bitcoin has not been without controversy, as it has been the focus of scrutiny from senators in the United States due to the fact that it provides customers with a 401(k) plan that includes an investment option for bitcoin.


In a recent letter, the same group of senators who had previously voiced the same criticism stated that "Fidelity Investments has opted to expand beyond traditional finance and delve into the highly unstable and increasingly risky digital asset market." This criticism has recently reappeared and was voiced by the same group of senators.

In spite of these warnings, it would appear that Fidelity is plunging headfirst into bitcoin, which comes at a time when interest in bitcoin among those working in traditional finance continues to grow. It should be noted that the move comes at an especially interesting time, given recent developments surrounding the collapse of FTX and the increased attention that is being paid to volatility in the industry. It is important to note that the move comes at a particularly interesting time.

Because of the precarious position that the industry perception currently occupies, the actions of behemoths like Fidelity will almost certainly have implications for the direction that bitcoin regulation will take in the future.


Orizu Ebube

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