- Following a tweet from a SHIB influencer requesting the listing of the meme crypto coin, Fidelity Investments has hinted at a possible integration of the token in the future.
- A Fidelity listing of SHIB would boost its global adoption massively and possibly topple Dogecoin as the king of meme coins.
Fidelity Investments, the US-based crypto trading firm, announced that it is considering listing the popular meme crypto token, Shiba Inu, on its digital asset trading platform. The news came in response to a request by a SHIB fan and influencer in the Shiba Inu ecosystem.
After a prominent influencer for the SHIB army, @ShibPP tweeted that the financial services company should consider integrating SHIB into its trading app, the firm responded by stating that, at the moment, it only offers Bitcoin and Ethereum. However, it added that it plans to add SHIB and other crypto tokens in the future as it looks to expand its crypto trading activities.
Thanks for reaching out. Currently, bitcoin and ethereum are the only cryptocurrencies offered. We are hoping to expand trading opportunities over time, and appreciate your feedback.
— Fidelity Investments (@Fidelity) November 28, 2022
This crypto trading firm offers zero-commission transaction services to interested investors; a service launched earlier this month. In addition, the asset management firm further disclosed that one of its services, Fidelity Crypto, is designed to enable retail investors to buy and trade BTC and ETH on its trading app.
Furthermore, the American crypto service provider provides custody services for all supported crypto tokens via its subsidiary, Fidelity Digital Assets. Speaking to 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 cryptocurrency, and the company seeks to provide them with the right tools and support to make their choice. Thus, Fidelity will continue to ensure that customers benefit from its education, research, technology, and support.
Related: Fidelity to allow Bitcoin account for investors in their 401(k) retirement plan
Furthermore, Fidelity also provides Bitcoin custody services and other crypto-based investment products to users. As a show of its faith in digital assets, the financial giant allowed its employees to invest some of their 401(k)-retirement savings in Bitcoin earlier this year. The company is one of several corporate giants in the United States with active crypto investments.
Will the SHIB price get a boost?
Fidelity Investments has assets under management valued at over $4.5 trillion. This makes it one of the key players in the financial investment space. Thus, should SHIB be integrated among its crypto-asset offerings, Fidelity would no doubt help in the massive adoption of SHIB and push it a step above its rival, Dogecoin.
With Dogecoin fast losing its position as the king of meme coins, Shiba Inu would become the meme-themed token of choice among retail traders should the Fidelity listing happen. The strong SHIB community and its active influencers have been the driving force behind the token’s adoption in the major trading platforms.
After drawing the network’s attention through a successful social media campaign, they played a pivotal role in SHIB’s listing on another crypto trading company, Robinhood. As expected, the online appeal demanded listing SHIB on Robinhood’s commission-free trading app alongside additional support for the asset.
Hence, it is no surprise that the community is taking a similar step with Fidelity investment to list SHIB on its trading platform. Based on antecedents, it is only a matter of time before the Shiba Inu supporters get their wish. SHIB is up 1.30 percent in the last 24 hours and trades at $0.000009188, according to recent data.
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