Fidelity is reportedly about to offer cryptocurrency trading for pros within a few weeks Skip Navigation watchlive Markets Pre-Markets U.S. Markets Currencies Cryptocurrency Futures & Commodities Bonds Funds & ETFs Business Economy Finance Health & Science Media Real Estate Energy Climate Transportation Industrials Retail Wealth Life Small Business Investing Personal Finance Fintech Financial Advisors Options Action ETF Street Buffett Archive Earnings Trader Talk Tech Cybersecurity Enterprise Internet Media Mobile Social Media CNBC Disruptor 50 Tech Guide Politics White House Policy Defense Congress Equity and Opportunity CNBC TV Live TV Live Audio Business Day Shows The News with Shepard Smith Entertainment Shows Full Episodes Latest Video Top Video CEO Interviews CNBC Documentaries CNBC Podcasts CNBC World Digital Originals Live TV Schedule Watchlist Investing Club Trade Alerts Jim's Morning Thoughts Analysis Morning Meeting Trust Portfolio PRO Pro News Pro Live Subscribe Sign In Menu Make It USA INTL watchlive Search quotes, news & videos Watchlist SIGN IN Create free account Markets Business Investing Tech Politics CNBC TV Watchlist Investing Club PRO Menu Markets Fidelity is reportedly about to offer cryptocurrency trading for pros within a few weeks Published Mon, May 6 20193:21 PM EDT Updated Mon, May 6 20195:14 PM EDT Maggie Fitzgerald@mkmfitzgerald WATCH LIVE Key Points Fidelity Investments new cryptocurrency company will begin to offer trading in a few weeks. Betting that the cryptocurrency bear market will turn around, Fidelity created its cryptocurrency platform Fidelity Digital Assets in October. Bitcoin was trading near $5,703 on Monday. A Fidelity Investments branch. Nicholas Pfosi | The Boston Globe | Getty Images Fidelity Investments' new cryptocurrency company will offer trading for institutional customers in a few weeks, Bloomberg reported Monday. Betting that the cryptocurrency bear market will turn around, Fidelity created its cryptocurrency platform Fidelity Digital Assets in October. The new company began a custody service to securely store bitcoin for its customers in March, CNBC reported. Now, it will be letting customers buy and sell the cryptocurrency in the upcoming weeks, according to people familiar with the matter. related investing news Pro Picks: Watch all of Friday's big stock calls on CNBC Joshua Natoli 21 hours ago Fidelity, a roughly 72-year-old family controlled firm, is primarily known for managing retirement plans and mutual funds. But it also spends $2.5 billion per year on technologies like artificial intelligence and blockchain. Forty-seven percent of institutional investors think digital assets are worth investing in, according to a survey released by Fidelity on May 2. Further, of the 450 institutions interviewed by Fidelity for research for its new company, everyone from wealthy families to hedge funds to pensions, 22% of respondents already owned a cryptocurrency. Since the bitcoin boom in 2017, the world's largest cryptocurrency has dropped more than 60% since its high of almost $20,000 at the end of 2017 and was trading near $5,703 on Monday. Fidelity is only offering the crypto trade to institutional customers. Rivals like Robinhood and E-Trade Financial are taking on retail investors. Bitcoin is up more than 54% this year. Read the full Bloomberg story here. TV WATCH LIVE WATCH IN THE APP UP NEXT | ETListen TV WATCH LIVE WATCH IN THE APP UP NEXT | ETListen Subscribe to CNBC PRO Licensing & Reprints CNBC Councils Supply Chain Values CNBC on Peacock Join the CNBC Panel Digital Products News Releases Closed Captioning Corrections About CNBC Internships Site Map Podcasts Ad Choices Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch Advertise With Us Please Contact Us CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Privacy Policy|Do Not Sell My Personal Information|CA Notice|Terms of Service © 2022 CNBC LLC. All Rights Reserved. A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and Disclaimers Data also provided by