Tags: fidelity

In another sure sign of mainstream crypto adoption sweeping the world, a host of banks, blockchain companies, and one US state announced in March that they plan to launch stablecoins soon.

With the US stablecoin market worth around $235 billion, Fidelity is entering the space amid growing institutional interest and regulatory clarity.

Ignoring Bitcoin could leave nations vulnerable, Fidelity claims, as inflation, deficits, and competition demand strategic digital asset allocation.

Fidelity, Ark, Valkyrie, and VanEck joined BlackRock’s record $872 million inflow day, adding smaller contributions to US Bitcoin ETFs.

Spot Bitcoin ETFs recorded $458.54 million inflows on October 16, with BlackRock’s IBIT leading the surge.

Fidelity maintains that there is no evidence that the stolen customer information has been misused.

American multinational financial services Fidelity is reportedly researching stablecoins and tokenized treasury products.

BlackRock’s IBIT led with $117.25 million in inflows on July 15, also being the most traded Bitcoin ETF.

Amidst market declines, spot Bitcoin ETFs saw major contributions from BlackRock’s IBIT and Fidelity’s FBTC.

BlackRock’s IBIT and other eight US spot Bitcoin ETFs reported no flows on July 3rd.

The trio‘s alliance underscores the growing adoption of tokenization by traditional financial institutions.