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FIDELITY APPROVED TO BECOME CANADA’S FIRST INSTITUTIONAL BITCOIN CUSTODIAN

FIDELITY APPROVED TO BECOME CANADA’S FIRST INSTITUTIONAL BITCOIN CUSTODIAN



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37 Comments

  1. tldr; Fidelity Clearing Canada has been approved by Canadian regulators to become the country’s first bitcoin custodian. The firm will launch its service in the form of a bitcoin trading and custody platform catered to institutional investors. The move paves the way for more Canadian institutions to invest in bitcoin.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. People are missing the point…it’s about adoption…just like the Lakers arena naming rights being bought by crypto.com isn’t a first, it’s just another step up in the hill climb towards adoption. At this point, everything of this nature, especially institutional means we’re past looking back to fiat and the shift to a Sat based economy isn’t a question of how but when.

  3. Give the United States 100 years to get there. They couldn’t stop Madoff with warning and the GFC, but this they’ve really got to mull potential regulatory issues with this for a century because of potential fraud.

    As a country, it’s really stopped being functional or innovative.

  4. I don’t understand why this is a big deal when Purpose investments and CI financial already do this and have ETFs available to retail or institutions.
    But still good news for crypto!

  5. Individuals should **buy actual Bitcoins** (not alt-coins, GBTC, ETFs, paypal, robinhood, etc), then send their Bitcoins to their own (hardware) wallets.

    “*Not your keys, not your Bitcoins*.” — Antonopoulos

    Stop applauding the Wall St. criminals.

  6. Fuck fidelity. Fuck asshole bankers and financial punks. Stay away from the old punks that are losing control of money and are trying to get involved as “custodians”. Also fuck Canada.

  7. There are also US “regulatory approved custodians”? Or have the US based ones just set up shop with audits and investor assurances?

    Either way, it makes SEC/Gensler’s excuses for not allowing a real ETF that much weaker.

  8. Actual bitcoin is going to become quite scarce and hard to get as a physical asset in any meaning amount, and people will be ushered towards owning derivatives / etf / shares / etc in bitcoin instead.

  9. **Famed Economist Doubts Bitcoin Will Become Global Currency**
    Mohamed El-Erian, chief economic advisor at financial services company Allianz, says that bitcoin is not going to be a global currency and will not replace the U.S. dollar. However, he believes the cryptocurrency will always exist in the ecosystem and will not be regulated out of existence.

What do you think?

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