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"Most Bullish Thing" About to Happen to Bitcoin and Ethereum

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Thu, 3/11/2022 - 15:35
"Most Bullish Thing" About to Happen to Bitcoin and Ethereum
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Boston-based financial services behemoth Fidelity Investments has opened up a waitlist for those who want to try out its new commission-free cryptocurrency trading service called Fidelity Crypto.

The firm's clients will be able to buy and sell Bitcoin (BTC) and Ethereum (ETH).

In its statement, Fidelity said that a substantial portion of its clientele is interested in cryptocurrencies.

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Fidelity will be a fearsome competitor for brokerage firm Robinhood, which pioneered zero-free trading, as well as crypto-native companies such as Coinbase and Binance. US.

"The most bullish thing"

As reported by U.Today, cryptocurrency mogul Mike Novogratz spilled the beans about Fidelity's new offering last month.

In a CNBC interview that dates back to 2019, Novogratz predicted that Fidelity allowing its retail customers to buy Bitcoin would be the "most bullish thing" that could happen to the world's largest cryptocurrency.

Fidelity, which boasts roughly $9.9 trillion in assets under management as of today, topped 30 million retail investors' accounts in early November.

Institutional interest remains strong

As reported by U.Today, a recent survey conducted by the financial services giant shows that institutional interest in crypto has not been dented by the recent crash. In fact, an impressive 74% of institutions claim that they want to have exposure to cryptocurrencies in the future.

In September, Fidelity unveiled a new Ethereum Index Fund designed for accredited investors.

In April, the Boston-based corporation announced a new service that allows 401(k) investors access to Bitcoin.

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