Fidelity successfully launched their crypto clearly and custody company. Right now it is only for institutional clients.
This is a bit like JPMorgan coin, but unlike Bakkt and an ETF, where it is a case of traditional institutions and their clients embracing crypto, but not a case of traditional institutions broadening access for the average investor.
Still, the fact that companies like JPMorgan and Fidelity are launching crypto-based products despite the looming bear market is a hint that crypto’s future is still rather bright.
For the full story, see CNBC’s Fidelity’s new cryptocurrency company is up and running despite a bear market for digital coins.