According to a anonymous source, there is a lot happening in the world of cryptocurrencies and it all spells out a positive future for this industry. The buzz on the street is that several large institutions are now ready to go into Crypto-trading full force with the standout being Fidelity. According to Bloomberg, Fidelity`s cryptocurrency subsidiary Fidelity Digital Assets will reportedly launch Bitcoin trading for its clients “within a few weeks.”
Fidelity will join the likes of Robinhood and E-Trade, in a short but expanding list of traditional investing platforms, according to an article in Bitcoinmagazine by Jimmy Aki. Specifically, note that E-Trade was reported to be finalizing plans to offer Bitcoin and Ether to its customers, and TD Ameritrade even piloted Bitcoin and Litecoin paper trades through Nasdaq last April.
This news gives a high level of legitimacy and long-term support as investors around the globe will start to view these digital assets as trusted products that have value when trading or settling trades for global banks. JP Morgan has also built out an institutional component of their trading system for Bitcoin and digital assets, testing trades and settlement in their bond products.
We at Classiarius have made it clear in our articles and audiovisual presentations that 1. despite the sell-off in 2018 in digital assets, the market was going through a price searching phase and 2. a growing group of international financial firms were building out much needed infrastructure. These were strong signs of a market with a future. We still believe that Bitcoin and cryptocurrencies will eventually rid themselves of the “cowboy market” reputation and are embraced by the global financial system.