They're quite literally a financial giant, holding more American's 401k plans than any other company, administering more than $7 trillion in customer assets, employing over 40,000 people, and have 190+ offices across the United States.
On the record, in an e-mail to Bloomberg, spokesperson Arlene Roberts says the plan is to "...continue to roll out our services over the coming weeks and months based on our clients’ needs, jurisdictions, and other factors."
However, an insider who asked to remain unnamed used verbiage that sounds slightly more urgent, saying trading will begin "within a few weeks".
It's also looking like other coins will have to wait it out, for now, as Roberts squashed rumors that multiple assets would be included during the launch, saying "Currently, our service offering is focused on Bitcoin”.
Fidelity recently said the results of a privately conducted study showed 47% of institutional investors are interested in holding digital assets - it appears they're now moving fast to meet the demand.
My current thoughts on the whole thing - while I've heard some say this will certainly trigger a bull run, I wouldn't take it quite that far...yet.
Could it? Absolutely!
But hold off on making predictions until this major question is answered - how aggressively will they push cryptocurrency to their clients? We have no idea - they haven't touched on the marketing plans yet.
Remember - we're paying very close attention to every step they take towards their official entry into the cryptocurrency realm. But their average client isn't, they'll need to be offered the option of adding cryptocurrency to their portfolio.
If it's something a client will have to inquire about themselves, I wouldn't expect a dramatic bull run. Let's keep expectations reasonable, and speculation low, until we learn more.
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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com
San Francisco News Desk
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