Investors can now track their Bitcoin, Litecoin and Ethereum balances with their Fidelity accounts.
While debate continues about the suitability of cryptocurrencies as investment continues, Boston-based Fidelity announced on Wednesday that it is teaming up with Coinbase to allow users to view their digital currency wallets on its retail account dashboard.
Fidelity clients who are also Coinbase users will be able to view their Bitcoin, Litecoin and Ethereum balances along side their other accounts on Fidelity.com’s Portfolio Summery View.
Fidelity Labs, the R&D and innovation unit of Fidelity Investments, is launching the initiative to test whether individual investors should consider their digital currency holdings part of their overall financial picture, said Hadley Stern, senior vice president and managing director at Fidelity Labs, in released comments.
“Bitcoin and other blockchain technologies are emerging from their infancy but mass adoption is still many years away, and don’t underestimate their disruptive nature,” said Stern. “Just as many other technologies have done in the past, Bitcoin and blockchain will transform how we manage our finances.”