US-based cryptocurrency trading firm Fidelity Investments has announced that it is considering listing the popular Shiba Inu meme token on its digital asset trading platform. The news came in response to a request from a SHIB fan and influencer of the Shiba Inu ecosystem.
It currently only offers Bitcoin and Ethereum
After a top influencer in SHIB's military, @ShibPP, tweeted that the financial services firm should consider integrating SHIB into its trading app, the firm responded by stating that it currently offers only Bitcoin and Ethereum. While on Bitcoin Pro much more crypto can be traded. However, he added that he plans to add SHIB and other crypto tokens in the future as he intends to expand his crypto trading activities.
This cryptocurrency trading firm offers zero-fee transaction services to interested investors; a service launched earlier this month. Additionally, the asset management firm revealed that one of its services, Fidelity Crypto, was designed to allow retail investors to buy and trade BTC and ETH on its trading app.
Additionally, the American cryptocurrency services provider provides custody services for all supported crypto tokens through its subsidiary, Fidelity Digital Assets. Speaking on CNBC, a spokesperson for Fidelity stressed that "the firm aims to prioritize where its clients invest their funds."
Many Fidelity customers have expressed an interest in cryptocurrencies and the company seeks to provide them with the right tools and support to make their choice. Fidelity will therefore continue to ensure that customers benefit from its education, research, technology and support.
Additionally, Fidelity also provides custody services of Bitcoin and other cryptocurrency-based investment products to users. As a testament to its belief in digital assets, the financial giant earlier this year allowed its employees to invest part of their 401(k) retirement savings in Bitcoin. The firm is one of several US corporate giants with active investments in cryptocurrencies.
Will the price of SHIB get a boost?
Fidelity Investments has more than $4.500 trillion in assets under management. This makes it a major player in the financial investment space. Therefore, if SHIB were to be integrated among its crypto-asset offerings, Fidelity would undoubtedly contribute to the massive adoption of SHIB and push it one step above its rival, Dogecoin.
With Dogecoin rapidly losing its position as the king of meme coins, Shiba Inu would become the meme-themed token of choice for retail traders should Fidelity's listing happen. SHIB's strong community and its active influencers have been the driving force behind the adoption of the token in major trading platforms.
After gaining the attention of the net through a successful social media campaign, they played a pivotal role in the listing of SHIB on another cryptocurrency trading firm, Robinhood. As expected, the online appeal required SHIB to be listed on Robinhood's commission-free trading app and further support for the asset.
It is therefore no surprise that the community is taking a similar step with Fidelity investment to list SHIB on its trading platform. Based on the antecedents, it's only a matter of time before Shiba Inu supporters get their wish. SHIB is up 1,30% in the past 24 hours and is trading at $0,000009188, according to recent data. And what do you think. Will you buy Shib? Or do you have other favorite cryptocurrencies? Let us know in the comments section below.