Fidelity Launches Canada’s First Institutional Bitcoin Custody Service

Posted on by American Coins & Gold

Fidelity Launches Canada’s First Institutional Bitcoin Custody Service
Fidelity Clearing Canada ULC (FCC) has become Canada’s first regulated entity to offer bitcoin custody and trading services for institutional investors.“The demand for investing in digital assets is growing considerably and institutional investors have been looking for a regulated dealer platform to access this asset class,” Scott Mackenzie, FCC’s president said in a statement Wednesday.Institutional investors in Canada such as mutual funds and exchange-traded funds (ETF) previously had to use U.S.-based custodians. With FCC’s launch, more of these investors could potentially invest in bitcoin directly.In addition, Fidelity Investments Canada ULC filed preliminary prospectuses for Fidelity Advantage Bitcoin ETF and Fidelity…