BlackRock and Fidelity quietly entering the world of crypto?

BlackRock and Fidelity quietly entering the world of crypto? 

BlackRock and Fidelity Investments are quietly expanding into the world of BTC, ETH, and other crypto assets, potentially triggering more assurance among traders despite the ongoing crypto winter.

Despite the ongoing crypto winter that has caused Bitcoin (BTC) and Ethereum (ETH) to decline massively and investors to lose hope in a rebound, investment management company BlackRock and financial services corporation Fidelity Investments are quietly expanding into the world of BTC, ETH, and other crypto assets. With combined assets under management worth $14 trillion, the companies' interest in BTC and ETH could trigger more assurance among traders.

In his annual letter to shareholders, BlackRock CEO Larry Fink spoke in detail about digital assets and mentioned that crypto had made several headlines over the past year. He also talked about the potential advancements in the asset management industry, stating that the company is exploring the digital assets ecosystem, especially areas most relevant to its clients such as permissioned blockchains and tokenization of stocks and bonds. He emphasized that while the industry is maturing, there are clearly elevated risks and a need for regulation in this market. BlackRock is committed to operational excellence and plans to apply the same standards and controls to digital assets that it does across its business.

Meanwhile, Fidelity has expanded its Fidelity Crypto service to a larger audience after announcing an early waitlist in November. Sources have said that users can trade Bitcoin and Ether without paying a commission. The current situation has caused many analysts to point to the coming Bitcoin halving as a potential catalyst for the next bull run. The head of research at Galaxy, Alex Thorn, has commented that historically, Bitcoin halvings have been bullish events for the digital asset.

Cryptocurrencies have been intensely volatile as they continue to surge and crash before surging again. With many cryptocurrencies trading far below their record levels, fingers are crossed on what the year holds for crypto investors. Bitcoin, which once traded for more than $60,000, currently sells for around $28,000, having recently fallen below $20,000. While some believe crypto is a sham, others remain optimistic, hoping it is almost time for a positive turnaround. Bitcoin has added about 70% since 2023 as traders get set for a possible Federal Reserve earthquake. On the other hand, the price of Ethereum is $1,792