US Asset Manager Fidelity Explores Potential Stablecoin Launch
Fidelity Investments, one of the largest asset management firms in the US, is exploring the possibility of launching its own stablecoin after the successful introduction of their Ethereum and Bitcoin exchange-traded funds (ETFs) last year. Stablecoins Surge In Popularity: $238 Billion In Circulation Stablecoins are a unique category of cryptocurrency designed to maintain a stable […]
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Fidelity has filed with the U.S. Securities and Exchange Commission (SEC) to launch a bitcoin exchange-traded fund (ETF). The ETF will track the price of bitcoin as measured by the performance of the Fidelity Bitcoin Index. Fidelity Seeks SEC’s Approval Launch a Bitcoin ETF FD Funds Management, a subsidiary of Fidelity, has revealed that it plans to provide financial backing for a bitcoin ETF called the Wise Origin Bitcoin Trust, CNBC reported. On Wednesday, the company filed a Form S-1, a preliminary registration statement for the fund, with the SEC. The filing explains that the....
SPOILER ALERT: Asset Manager Fidelity thinks “bitcoin should be considered first and separate from all other digital assets that have come after it.” This is huge, considering the Fidelity Digital Assets division’s website opens with “We envision a future where all types of assets are issued natively on blockchains or represented in tokenized format.” That […]
Fidelity Crypto will focus on Bitcoin and Ether initially. The brokerage will make money by charging a 1% spread on trades. Fidelity Investments is expanding retail access to commission-free cryptocurrency trading services — a move designed to recognize growing mainstream interest in digital assets. According to CNBC, Fidelity’s new crypto offering will be powered by its subsidiary, Fidelity Digital Assets. Dubbed Fidelity Crypto, the new service will give retail investors the ability to buy and sell Bitcoin (BTC) and Ether (ETH) with minimal fees. Instead of a commission, Fidelity Crypto....
On Monday, Jurrien Timmer, director of global macro at Fidelity, told his 56,000 Twitter followers his perspective on current bitcoin prices. “In my view, it looks like the bottom is in,” the Fidelity executive explained, sharing a BTC/USD chart. Fidelity’s Jurrien Timmer Attempts to Call Bitcoin’s Bottom In mid-April, bitcoin (BTC) prices touched an all-time high at $64,895 per coin and then plummeted to $30,066 per unit on May 19. The price of BTC has not fallen below the $30K threshold but a number of investors have speculated that it could. There’s been a....
American multinational financial services company Western Union has unveiled a stablecoin strategy to expand its digital business and cross-border remittances. In particular, the money transfer firm is looking to launch a stablecoin card service targeted at nations with high inflation rates. Related Reading: Bitcoin Boost: Fidelity CEO Confirms Personal Holdings, Hails BTC As ‘Gold Standard’ […]