“We believe this news brings additional legitimacy and credibility to this emerging space, which will benefit our industry and customers,” a Fidelity spokesperson said of the BlackRock partnership with Coinbase. Goldman Sachs executed its first cash-settled cryptocurrency options trade with Galaxy Digital in March, and Fidelity said the following month that it would allow people to allocate a portion of their retirement savings to bitcoin through the company’s 401(k) plan investment lineup.įidelity formed Fidelity Digital Assets - a platform offering crypto custody and trade execution to institutional investors - in 2018. The move follows other notable crypto efforts by TradFi titans this year that have gained headlines as potential catalysts for advancing the industry. By connecting BlackRock’s investment platform, Aladdin, and Coinbase Prime, the companies are providing crypto trading, custody, prime brokerage and reporting capabilities to clients. The world’s largest asset manager said Thursday it partnered with Coinbase to offer crypto access to its institutional customers.
Fidelity spokesperson says BlackRock deal “brings additional legitimacy and credibility to this emerging space”īlackRock’s jump deeper into crypto is a sign institutions are looking beyond widespread volatility, industry participants say - increasing the prospect of traditional finance competitors following suit.Wall Street veteran labels JPMorgan a candidate to build out crypto capabilities.
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