Bitcoin still has ground to make up in the mainstream world.
Following the news of Fidelity Investments’ Bitcoin (BTC) fund filing, Mike Alfred, CEO of analytics outfit Digital Assets Data, described continued hesitancy in mainstream finance when it comes to Bitcoin.
“Many in the traditional financial services/asset management/wealth management verticals remain deeply skeptical of Bitcoin and the ecosystem,” Alfred told Cointelegraph on Sept. 10. “One commenter on my LinkedIn yesterday even called Fidelity’s move ‘Abby’s folly,'” he said, which takes a shot at Fidelity CEO Abigail Johnson in reference to her activities and position as an early Bitcoin adopter.
A mainstream financial services entity, Fidelity, with its daughter company, Fidelity Digital Assets, has made a name for itself in the crypto space in the arena of crypto custody. On Aug. 26, 2020, Fidelity filed for a Bitcoin trading product — the Wise Origin Bitcoin Index Fund — under a Regulation D exemption with the U.S. Securities and Exchange Commission, or