Biography: |
Being the third-largest asset manager in the world and with more than 80 years of experience in the finance sector, Fidelity's familiarity with crypto is rare. With this knowledge, Fidelity crafted a one-of-a-kind Bitcoin ETF. Rather than opting to outsource custodial responsibilities to another company, Fidelity will serve as the sponsor and the custodian for the ETF. Beyond managing the fund and its records, in other words, Fidelity also handles the actual trading and safekeeping of Bitcoin assets while most of the new ETFs outsource that function. Being the third-largest asset manager in the world and with more than 80 years of experience in the finance sector, Fidelity's familiarity with crypto is rare. With this knowledge, Fidelity crafted a one-of-a-kind Bitcoin ETF. Rather than opting to outsource custodial responsibilities to another company, Fidelity will serve as the sponsor and the custodian for the ETF. Beyond managing the fund and its records, in other words, Fidelity also handles the actual trading and safekeeping of Bitcoin assets while most of the new ETFs outsource that function. |