Fidelity Investments has submitted documents to U.S. regulatory authorities to launch its own blockchain fund, reports The Information. The fund is aimed at increasing the speed and efficiency of transactions through the use of blockchain technology. This will not only allow the company to accelerate financial operations but also reduce costs by eliminating intermediaries.
Thus, Fidelity is likely positioning itself to compete with BlackRock, which already offers a similar fund. This move may also signal that major financial players are increasingly recognizing the potential of blockchain technology and its ability to transform the traditional financial services market. Fidelity is betting on the future of blockchain, anticipating that investor interest in digital assets will continue to grow.
