Fidelity International Cautious and Curious on Crypto, Expects Asset Class to Mature

“We’re not pounding the table telling everyone to buy bitcoin,” Fidelity International’s Christian Staub told Financial News Wednesday

article-image

Prath/Shutterstock modified by Blockworks

share

Fidelity has waded into crypto before. Fidelity Canada launched a Canadian Bitcoin spot ETF in December 2021 and Fidelity International premiered a physical Bitcoin ETP for European institutions in February 2022. 

But one of Fidelity International’s top executives told Financial News Wednesday that they are being careful about dropping any new crypto offerings and will “tread with caution.”

“We’re not pounding the table telling everyone to buy bitcoin. But if larger clients want access, we can now provide it,” said Christian Staub, Fidelity International’s managing director for Europe.

Staub continued, “We expect this asset class to become more sophisticated, but due to their nascent nature, digital assets are still lightly regulated. Over time, regulatory coherence should act as an enabler of digital asset adoption.”

Staub also mentioned how volatile crypto assets can still be. That is certainly true, as crypto’s total market cap neared $3 trillion early November 2021, the height of the bull run. Now, with bitcoin (BTC) and ether’s (ETH) respective values cut more than in half since November 2021, the sector’s market cap sits at $1.13 trillion as of Wednesday. 

Fidelity Investments, a separate entity from Fidelity International since 1980, has somewhat embraced crypto as a legitimate asset for both their retail and institutional customers to hold. 

Blockworks reported in April 2022 that Fidelity will allow the 23,000 employers it works with to offer a digital assets account in their 401k investment lineup. It allowed employees to invest in bitcoin through their job, and it was made available in the fall of 2022.

Fidelity also launched a crypto trading product for retail investors, letting them buy and sell bitcoin and ether without commission fees. 

Even virtual worlds are intriguing to Fidelity. The company, which had $10.3 trillion in assets under management in 2022 according to its annual report, filed trademark applications in December 2022 that hinted at plans to service customers in a crypto-powered metaverse.

Updated May 17, 2023 at 3:20 pm ET: Added distinctions between Fidelity Canada, Fidelity International and Fidelity Investments.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates (1).jpg

Research

Jupiter has emerged as the undisputed liquidity backbone of Solana, commanding over 90% of spot DEX aggregation and 80% of perp trading volume. But behind the numbers lies a far more ambitious play: a cross-chain, vertically integrated super-app spanning swaps, synthetics, NFTs, memecoins, and launchpads. This report explores Jupiter’s rapid rise, the monetization upgrades reshaping its revenue profile, and the risks that could unwind its dominance, from token dilution to competition. With annualized revenues nearing $300M, the upside is undeniable, if it can navigate the turbulence.

article-image

Immutable has been building a game with Ubisoft that was slated to unveil in April. It may be a TCG.

article-image

Curve founder Michael Egorov is working on a new protocol designed to eliminate impermanent loss, rethink token emissions, and capture BTC-native yield

article-image

Mining outfits have gone bust in the wake of prior halvings. Not so this time around.

article-image

Zora’s announcement that its token is for “fun only” sparked a debate about the need for such tokens

article-image

In recent weeks, Helium has hit new all-time highs while passing major protocol milestones

article-image

Financial advisers in a January survey said equity ETFs were their top choice for gaining crypto exposure in 2025