Fidelity’s New Crypto Product Will Only Target Sophisticated Investors Due to Lack of Regulatory Clarity

As U.Today reported earlier, the Boston-based investment giant Fidelity, which has always been at the forefront of financial progress, is now dipping its toes in cryptocurrencies. Apart from opening a huge Bitcoin mining facility, Fidelity CEO Abigail Johnson also made an announcement about launching a new crypto-related project by the end of this year. However, it doesn’t necessarily mean that digital currencies will soon come to your retirement account.

According to Fidelity’s top executive Kathleen Murphy, the company will only focus on sophisticated clients who fully understand what exactly they put in their basket. Murphy claims that they support innovations, but they do not want them to hurt individual investors. Hence, they only focus on areas with regulatory clarity.