Fidelity Investments entering crypto

Fidelity - another big player entering crypto

Fidelity Investments filed the forms necessary for the SEC to be able to launch Wise Origin Bitcoin Trust. This means that the 3rd asset manager in the world, by funds managed is entering the crypto-space. The first two are Blackrock and Vanguard.

It manages funds greater than $4.9 trillion!

This announcement shall give again some fuel to the crypto markets, especially to BTC as this will be the main target.

Is it good for crypto?

Some might fear that this big players might ruin crypto as it is not the underground feature that people loved. I think, and by all means this is not a piece of advice as I'm not an analyst, that if we want to go mainstream, we would need the big guys or how they are sometimes called, too big to fail.

I wonder how much liquidity will they take from the market. Also, I see them as competition for the other big guys, like Grayscale as they will fight not for the BTC itself, but for the pension money. That pension money is real sweet, and for them BTC can be a well refined fuel.

It is good for crypto, as they will need massive buy-ins. Imagine BTC reaching 70k just because some billions have been put in.

I hope that the sellers will be the miners, not the small investors. We need to avoid this wealth transfer and hold to our crypto, at least for the next 5 years. In 5 years, it is probably right to assume that the top10 asset managers will have at least a BTC option in their portfolio, and this is a game changer!

How do you see it?

Posted Using LeoFinance ^Beta