Written by 7:33 pm Cryptocurrency

Fidelity Continues Embrace of Cryptocurrency

In another sign of its growing interest in digital assets, Fidelity Investments has set up a waitlist for its customers for Fidelity Crypto.

According to the company’s website, the offering lets users trade bitcoin and Ethereum at no commission, invest in stocks and crypto from the same app, and access a learning center where customers can get information to make more informed trades.

The launch comes days after a survey by Fidelity that found that this year’s “crypto winter” hasn’t cooled people’s enthusiasm for investing in digital currencies.

The firm’s findings showed that 58% of institutional investors had invested in digital assets during the first half of 2022, a six-point increase from the prior year. Meanwhile, nearly 75% of people surveyed said they planned to invest in the future.

“While the markets have faced headwinds in recent months, we believe that digital assets fundamentals remain strong and that the institutionalization of the market over the past several years has positioned it to weather recent events,” Fidelity Digital Assets President Tom Jessop said in a news release.

Read more: Fidelity: 58% of Investors Have Money in Crypto

“Institutional investors are experienced in managing through cycles, and the largely inherent factors that they cited as appealing in this study will likely remain as the market emerges from this period.”

Also last month, Fidelity said it was hiring 100 more workers for its digital assets operations, a move that should bring the headcount of the company’s crypto business to about 500 by the end of the first quarter of next year.

The new workers were hired for Fidelity Digital Assets’ client services, operations, technology, business development, marketing, and compliance departments, spread across several cities, including Boston, New York, London and Dublin.

In September, PYMNTS reported that the company was going forward with plans to offer the option to invest in cryptocurrency on some employer-sponsored retirement plans. Fidelity Digital Asset Accounts will offer employers the option to let participants invest up to 20% of their accounts in bitcoin.

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https://www.pymnts.com/cryptocurrency/2022/fidelity-58-percent-investors-have-money-crypto/partial/

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