The FUD from The Feds regarding crypto is off the charts lately. Crypto-friendly Signature bank was shut down recently and now there are reports that the FDIC is telling Signature’s potential buyers that they must stop doing business with any crypto companies. That isn’t what anyone in the industry wants to hear, but at the same time, it also strengthens the argument for decentralizing financial systems.
Crypto is amazing and The Feds know it. They know it poses a huge risk to their failing centralized institutions and regulations. There is a better system out there that benefits more people in better ways than the current system. But centralized powers have to give up control, which is where the friction is.
Even while all the FUD is occurring, large investment firms couldn’t care less and are quietly opening crypto investment on-ramps for their current and new investors. The latest firm to do just this is Fidelity.
Fidelity Investments is one of the leading asset management firms in the United States. Founded in 1946, Fidelity has over 40 million users and more than $10 trillion in total customer assets. In addition to offering mutual funds, retirement planning, stock trading, and financial advice, they recently launched Fidelity Crypto to allow their clients to invest in Bitcoin and Ethereum directly from the same place they currently manage their traditional investments.
With Crypto, Fidelity is offering investors a one-stop shop for all their crypto investing needs. Crypto represents one of the first times a large, established financial institution has made it so easy to invest in cryptocurrency. It’s now possible for investors with little crypto-familiarity to buy, sell, and store Bitcoin and Ethereum with the same level of security and convenience they’ve come to expect from Fidelity. Crypto also offers a simple way to track your investments as well as monitor market trends. However, it’s important to note that Crypto is not insured by the FDIC.
Other Crypto-Related Products
In addition to buying and selling crypto tokens, Fidelity also offers two other crypto-related exchange-traded funds (ETFs).
- Crypto Industry and Digital Payments ETF – A collection of centralized exchanges, crypto mining companies, and general blockchain tech companies.
- Metaverse ETF – A collection of big-tech companies that all dabble in some way, shape, or form into metaverse-related projects.
There is risk in traditional finance, crypto, and life in general. Shit, you can get killed walking your dog. We are all adults and we can make up our own minds on where we want to place our money. The U.S. government will continue trying to kill crypto but they won’t be able to. It’s already too big and the technology is too important for the government to eliminate it. We need to start looking at ways to bridge TradFi with DeFi and regular crypto investing. Fidelity seems to understand this and offers $BTC and $ETH buying and selling as well as crypto-related ETFs to a huge user base. The only question is who will be the next investment firm to offer similar products?
This is a Contributor Post. Opinions expressed here are opinions of the Contributor. Influencive does not endorse or review brands mentioned; does not and cannot investigate relationships with brands, products, and people mentioned and is up to the Contributor to disclose. Contributors, amongst other accounts and articles may be professional fee-based.