Fidelity Investments is one of the biggest capital management corporations in the world with over $11.8 trillion under administration and over $4.5 trillion under management. The company is known for making prudent financial decisions and offering its clients access to a diverse lineup of financial instruments.
Huge pension funds may be invested in crypto
Their recent announcement stated that the company will provide access to cryptocurrency funds to their clients with 401K investments under the company’s administration. Now, people who want to start investing in crypto to secure their pensions can allow Fidelity to place their capital in funds focusing on purchasing Bitcoin and other cryptocurrencies.
It is a massive move from the corporation that immediately bolstered the positions of BTC and ETH in the market. The influx of capital from 401Ks can be a turning point in the struggle between bears and bulls. The crypto market has been crashing up until august, but started recovering and reached a new stable position in September with the total market cap finally getting over the $1 trillion mark once again.
Fidelity sees big potential in cryptocurrencies and offers many of its clients a chance to capitalize on the next Bull Run and the long-term appreciation of the asset that has been the main reason why over 62% of all bitcoin wallets never transfer anything and just store their coins indefinitely despite market volatility.
Retail traders at Fidelity will join the crypto market
The next big move from Fidelity was the announcement that they would start offering retail traders access to crypto markets. With over 34 million clients from the US, Fidelity’s new product can be even more impactful than BlackRock’s foray into the crypto industry and a massive Bitcoin fund established by JPMorgan. Within the next several months, we could see a notable increase in daily trading volume.
With the influx of more retail traders, the dynamics in the crypto industry can change. Despite mainstream popularity, Bitcoin is still a novel financial instrument for millions of traders who do not have the necessary technical expertise to start working in the crypto market. Consultations and convenient tools from giants like Fidelity can open the market to more outsiders!