Fidelity begins retail bitcoin account openings


Certain individuals have been notified through email that they may now buy and sell bitcoin on the Fidelity platform.

Fidelity, one of the world’s major suppliers of financial services, has begun offering consumers bitcoin trading accounts.

The news follows their revelation earlier this month of a waiting list. The Block reported that select users, presumably those on the waiting list, got an email informing them of the release with the subject line “The wait is gone.”

According to the company’s website, Fidelity has been involved in the bitcoin sector since 2014, when it started bitcoin mining. In addition, in December of 2021, it introduced a spot bitcoin ETF in Canada.

The financial services giant’s involvement in bitcoin has been scrutinized by U.S. lawmakers for its 401k plan that enables customers to invest in bitcoin.

Recently, the same concern has returned from the same group of senators, who wrote in their most recent letter, “Fidelity Investments has chosen to expand outside conventional finance and into the extremely volatile and more dangerous digital asset sector.”

Fidelity looks to be diving deeply into bitcoin despite these concerns, as the conventional financial community’s interest in bitcoin continues to expand. Notably, the move comes at a particularly intriguing moment, considering the recent events surrounding the collapse of FTX and the increased focus on volatility within the sector.

Given the unstable view of the sector, the actions of behemoths like Fidelity will almost surely affect the future of bitcoin regulation.

Also Read: China’s civil instability may cause Bitcoin to go below $16,000

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