Fidelity and BlackRock, two of the largest financial institutions in the world with a combined $14 trillion in assets under management, are subtly expanding into the world of Bitcoin, Ethereum, and cryptocurrency amid the crypto winter, the media outlet Forbes reported on March 21.

Fidelity Investments, according to insights, has recently made its cryptocurrency trading platform available to all 37 million of its users. This means that users can now buy and sell Bitcoin and Ethereum without incurring any commission fees.

Bitcoin enthusiasts and market watchers are suggesting that the upcoming halving of Bitcoin, which will see the creation of new Bitcoin reduced by half, could be a factor that drives the next bull run in bitcoin prices. This halving event is expected to occur in late April 2024 and will involve a reduction in the block reward for miners from the current 6.2 Bitcoin to 3.1 Bitcoin.

Meanwhile, following the recent controversy within the U.S. banking sector, the Federal Reserve increased the federal funds rate by 25 basis points (bps) on Wednesday, aiming to achieve a long-term inflation rate of 2%.

Source: FORBES