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Author Topic: [2019-05-06] $7 Trillion Asset Giant Fidelity to Launch Crypto Trading ‘Within..  (Read 106 times)
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May 06, 2019, 11:59:30 AM
 #1

$7 Trillion Asset Giant Fidelity to Launch Crypto Trading ‘Within Weeks’

Fidelity says its cryptocurrency trading product is aimed at institutional traders and will initially focus on bitcoin. Fidelity spokesperson Arlene Roberts said:

“We currently have a select set of clients we’re supporting on our platform. We will continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors. Currently, our service offering is focused on Bitcoin.”

https://www.ccn.com/breaking-7-trillion-asset-giant-fidelity-to-launch-crypto-trading-within-weeks/

Great news, however, who are these institutional traders

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May 06, 2019, 01:56:16 PM
 #2

It's not for the first time Fidelity Investments directs its eyes to Bitcoin. During 2016 Fidelity Charitable raised $7 million in BTC, and if they hadn't converted it to USD right away, they could end up with much bigger amount in 2017.

I think that the very fact that one of the biggest asset managers on the planet is launching a crypto trading service "focusing on Bitcoin"(in their own words) is a very good omen.

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May 06, 2019, 02:21:08 PM
 #3

It's not for the first time Fidelity Investments directs its eyes to Bitcoin. During 2016 Fidelity Charitable raised $7 million in BTC, and if they hadn't converted it to USD right away, they could end up with much bigger amount in 2017.

I think that the very fact that one of the biggest asset managers on the planet is launching a crypto trading service "focusing on Bitcoin"(in their own words) is a very good omen.
Back in 2015 Fidelity has also mined 100 or so coins with their own hardware. It really shows that while people are waiting for institutions to enter this market, they have been here all the time.

And them focusing on Bitcoin the first makes the most sense considering it's by far the most secure and liquid coin in this industry. Eventually they will roll out support for Ethereum and some other coins.

Money has always been their main incentive so it wouldn't surprise me if they at some point offer support for the whole top 10 or top 20 of coins ranked based on market cap.

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May 06, 2019, 04:47:06 PM
 #4

It really shows that while people are waiting for institutions to enter this market, they have been here all the time.

Some institutions were here. There's plenty more institutional money that can be invested into crypto, with the benefit of both sides.

But.. (yeah, there's always a "but") : institutional investors are seasoned investors. They are clearly not HODLers. When the price is good for buying, they'll buy. If the price is good for selling, they'll sell. And since it's unregulated area, they also afford to play dirty (from FUD to fake buy/sell walls and maybe even pump-and-dumps).

That's also why, although many don't like to hear about that, we may need proper regulations for these markets.

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May 06, 2019, 07:49:27 PM
 #5

Great news, however, who are these institutional traders

It could range from few million $$ local funds to multi billion $$ legacy hedge funds, or some wealthy family elites.

If this level of institutional adoption continues, we see Bakkt come online, LedgerX grow further, an ETF somewhere in the next couple of years, the supply of available coins will sink to the absolute lowest ever point. Currently Square alone usurps 10% of the daily supply of minted coins, and they are a faily small entity within the Bitcoin ecosystem.

I am quite sure that with the massive surge in recent interest Square usurps even more than 10% so I am looking forward to the next release of their sales numbers.

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May 06, 2019, 10:36:07 PM
 #6

That's also why, although many don't like to hear about that, we may need proper regulations for these markets.
We'll get there eventually. We can't expect regulators to keep up with everything that's happening in the world of crypto. I'm sure that most people here don't even know what's really going on here and how things work.

Japan has improved a lot in that field, which people didn't like at all because of how strict they have become. I don't see it as a problem at all because that's exactly what this industry needs.

People don't like regulators being involved, but do want to see the price pump to the moon, and eventually become a stable asset class. You need institutional capital to achieve that. Retailers alone won't cut it.

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May 06, 2019, 10:57:37 PM
 #7

Japan has improved a lot in that field, which people didn't like at all because of how strict they have become. I don't see it as a problem at all because that's exactly what this industry needs.

we want exchanges to de-list privacy coins like monero so they can get a government license? Tongue

that's japanese regulators for you!

People don't like regulators being involved, but do want to see the price pump to the moon, and eventually become a stable asset class. You need institutional capital to achieve that. Retailers alone won't cut it.

bitcoins are so scarce that i don't think we're so dependent on institutional money. we might go to the moon regardless of when the dinosaurs get on board.

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May 07, 2019, 02:30:16 AM
 #8

we want exchanges to de-list privacy coins like monero so they can get a government license? Tongue

Like it or not that will eventually happen. Maybe privacy coins will eventually find their place on DEX like Bisq, but I'm pretty sure regulated exchanges won't list them. There need to be some compromise between government and crypto, if what they want to achieve is moon lambo rocket.

bitcoins are so scarce that i don't think we're so dependent on institutional money. we might go to the moon regardless of when the dinosaurs get on board.

Still, need money to pamp it.

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May 07, 2019, 05:48:41 AM
 #9



bitcoins are so scarce that i don't think we're so dependent on institutional money. we might go to the moon regardless of when the dinosaurs get on board.

Still, need money to pamp it.



You are absolutely right. We get that bitcoin is scarce but how will it shoot through the highest ceiling if only a small percentage of the total money around the world is involved?  We don't have to be selfish like we don't need ETF or Baakt or this and that because anything that could help us shouldn't be treated negatively.
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May 07, 2019, 03:20:59 PM
 #10

With those kind of funds they are probably mining already with bitcoins safely stashed in a cold storage wallet. Not for an experiment but for large profits.

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May 07, 2019, 06:14:35 PM
 #11

More great news for bitcoin and cryptos - more bullish maket, that's cool

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May 08, 2019, 11:43:32 PM
 #12

We should know this not a first time news but of course we need to celebrate this new giant fidelity to launch crypto trading, another news that can help for bitcoin pumping.

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May 09, 2019, 01:06:24 AM
 #13

Excellent news. But I do not think they're going to transact Bitcoin directly. They're probably just going to use dollars. Maybe with cold storage for institutional purposes.
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May 09, 2019, 03:54:24 PM
 #14

Is good news, but we need news like: " country X legalized bitcoin and allows all its citizens to buy, sell and use bitcoin as a means of payment without any problem." things like these will be very good. But unfortunately the years passed and we do not hear some country legalize bitcoin. we need influential people in politics that can persuade governments to legalize bitcoin

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