Fidelity Digital Assets
Digital asset custody and trading platform
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Project Overview
Fidelity Digital Assets is a subsidiary of Fidelity Investments and operates as a separate business dedicated to digital assets. It combines the operational and technical experience that institutions and investors have grown to expect from a Fidelity business to deliver a completely new offering for this asset class.
Fidelity Analyst Says Bitcoin Could Rise from $100K to $200K Much Faster
Bitcoin News posted on X platform that Zack Wainwright, a research analyst at Fidelity Digital Assets, stated that as of October 12, Bitcoin had risen nearly 50% from its bear market low of around $58,000 in June, with a trajectory similar to its 2022 recovery path. He cautioned that Bitcoin's returns have been narrowing each cycle, and past performance does not guarantee future results, but significant upside in dollar terms remains possible; Bitcoin took nearly 16 years to break through $100,000 for the first time, and the move from $100,000 to $200,000 could happen much faster.
Fidelity believes there is room for growth in Bitcoin demand from the $15 trillion global fixed income market
Odaily Report: Fidelity Digital Assets research analyst Zack Wainwright noted in an analysis published on October 20 that preferred stock financing oriented toward Bitcoin could attract capital from the approximately $15 trillion global fixed income market. Fidelity estimates that the size of this type of preferred stock is approximately $12 billion.As of October 5, preferred stock financing has supported the purchase of 135,979 BTC, of which more than 95,000 were purchased between March and May. Fidelity estimates that nearly 96% of Bitcoin's maximum supply has been issued, and the next halving is expected in less than two years.Bitcoin treasury company Strive Inc. completed a 15% Series A Perpetual SATS Preferred Stock offering on October 20, selling 7 million shares at $90 per share for total proceeds of $630 million; the dividend rate is calculated on a $100 par value and is 15% annualized.Bitcoin treasury company Strategy Inc. disclosed that it holds 848,517 BTC and purchased 267 BTC the previous week for $22.1 million, using proceeds from common stock issuance and cash. Fidelity noted that the performance of related instruments is affected by both Bitcoin and the issuing company. (Bitcoin.com News)
$500,000 Settlement: Fidelity Digital Assets Resolves California Investigation into Crypto Withdrawal Restrictions
California Attorney General Rob Bonta announced on October 16 that his office has reached a $500,000 settlement with Fidelity Digital Assets, National Association (the successor entity to Fidelity Digital Asset Services), regarding the company's prior practice of restricting California retail customers from transferring cryptocurrency to external wallets. Regulators determined that this practice may have violated the California Commodity Law of 1990, which restricts certain speculative commodity contracts unless the buyer receives physical delivery within a specified timeframe. The California government views the ability to withdraw cryptocurrency as a functional equivalent of delivery.From November 2022 to April 2025, California customers could buy and sell cryptocurrency on the Fidelity platform but were unable to send assets directly to external wallets. Fidelity stated that the restriction stemmed from the New York State Department of Financial Services (NYDFS) not having approved the relevant functionality at the time; approval was granted in April 2025, and the transfer feature was extended to all California retail customers in June 2025.
Fidelity refutes claims that Bitcoin’s security declines post-halving, stating miners’ revenue increases as Bitcoin price rises.
According to Cointelegraph, Fidelity Digital Assets has rebutted concerns in a new research report that Bitcoin’s long-term security will deteriorate as mining rewards decline, asserting that the network’s economic incentives remain sufficient to secure the blockchain over the long term. Authored by Fidelity research analyst Daniel Gray, the report reiterates that Bitcoin’s security depends not only on block rewards but also on transaction fees and market-driven economic incentives, which will continue to motivate miners to protect the network—and render sustained attacks prohibitively costly. The report challenges a longstanding critique that Bitcoin’s security is weakened every four years by the halving event, which reduces new coin issuance. It notes that since April 20, 2024, Bitcoin miners have received a subsidy of 3.125 BTC per block—down from 6.25 BTC in the previous halving cycle—but this reduction in issuance has not translated into diminished miner incentives, as Bitcoin’s price appreciation has more than offset the decline in block rewards. Gray points out that average daily miner revenue has surged from approximately $26,300 during Bitcoin’s first halving cycle to over $40.2 million today. The report also notes that although Fidelity views the long-term incentive structure as sound, many publicly listed mining companies are currently facing financial pressure, with some diversifying into artificial intelligence and high-performance computing. VanEck recently
Fidelity believes there is room for growth in Bitcoin demand from the $15 trillion global fixed income market
Odaily Report: Fidelity Digital Assets research analyst Zack Wainwright noted in an analysis published on October 20 that preferred stock financing oriented toward Bitcoin could attract capital from the approximately $15 trillion global fixed income market. Fidelity estimates that the size of this type of preferred stock is approximately $12 billion.As of October 5, preferred stock financing has supported the purchase of 135,979 BTC, of which more than 95,000 were purchased between March and May. Fidelity estimates that nearly 96% of Bitcoin's maximum supply has been issued, and the next halving is expected in less than two years.Bitcoin treasury company Strive Inc. completed a 15% Series A Perpetual SATS Preferred Stock offering on October 20, selling 7 million shares at $90 per share for total proceeds of $630 million; the dividend rate is calculated on a $100 par value and is 15% annualized.Bitcoin treasury company Strategy Inc. disclosed that it holds 848,517 BTC and purchased 267 BTC the previous week for $22.1 million, using proceeds from common stock issuance and cash. Fidelity noted that the performance of related instruments is affected by both Bitcoin and the issuing company. (Bitcoin.com News)
Analysis: Correlation between BTC market cap and U.S. 10-year real Treasury yields rises to historical high
According to a post by Fidelity Digital Assets (@DigitalAssets) on the X platform, for most of BTC's history, US real interest rates and BTC price action have moved largely independently, but the relationship between the two has now reached an unprecedented degree of alignment: the correlation between BTC's market cap and the 10-year US real Treasury yield has climbed to its highest level on record. The firm also noted that on Oct. 14, its tracked BTC momentum signal turned positive, with trend and volatility indicators simultaneously supporting the recent price strength, a combination that has historically typically been associated with more sustained rallies. Fidelity added that it will further analyze the drivers behind this shift and monitor whether capital flows can sustain the trend.
Bitcoin Security Alliance Officially Established, Nine Major Institutions Pledge $15 Million Over Three Years
According to the official press release, Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, nine leading financial institutions and Bitcoin companies, jointly announced the establishment of the Bitcoin Security Consortium on July 23, 2026. The members independently committed to contributing a total of $15 million over the next three years to support long-term security research for the Bitcoin network, with a focus on development work in the field of post-quantum cryptography. The consortium's daily affairs are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt; it will not intervene in protocol development or specific change decisions and will regularly release Bitcoin security status reports to investors and the public.
Fidelity Digital Assets: Bitcoin Leads Crypto Market Stabilization, On-Chain Data Shows Positive Signals
According to CoinDesk, Fidelity Digital Assets released its “Q2 Signals Report 2026” on April 28, noting that although the crypto market as a whole remained in consolidation during early Q2, several underlying metrics have already shown signs of stabilization. The report states that Bitcoin’s dominance continues to rise, capital is flowing steadily into the most liquid assets, and both the unrealized profit level and momentum indicators align with characteristics typical of a correction phase—potentially laying the groundwork for a more stable market structure going forward. Meanwhile, network usage for Ethereum and Solana has diverged from their respective price trends, suggesting robust demand at the protocol layer. The report also notes that Bitcoin futures continue to exhibit negative funding rates; research firm 10x interprets this as reflecting institutional structural hedging behavior—not a broad bearish signal.
Related news
Approved to operate a national trust bank, Ripple joins the ranks of Circle and others
A Fox Business crypto reporter posted on X that Ripple has received full approval from the U.S. Office of the Comptroller of the Currency (OCC) to operate as a national trust bank, joining the ranks of Circle, BitGo, and Fidelity Digital Assets.
Fidelity Analyst Says Bitcoin Could Rise from $100K to $200K Much Faster
Bitcoin News posted on X platform that Zack Wainwright, a research analyst at Fidelity Digital Assets, stated that as of October 12, Bitcoin had risen nearly 50% from its bear market low of around $58,000 in June, with a trajectory similar to its 2022 recovery path. He cautioned that Bitcoin's returns have been narrowing each cycle, and past performance does not guarantee future results, but significant upside in dollar terms remains possible; Bitcoin took nearly 16 years to break through $100,000 for the first time, and the move from $100,000 to $200,000 could happen much faster.
Fidelity believes there is room for growth in Bitcoin demand from the $15 trillion global fixed income market
Odaily Report: Fidelity Digital Assets research analyst Zack Wainwright noted in an analysis published on October 20 that preferred stock financing oriented toward Bitcoin could attract capital from the approximately $15 trillion global fixed income market. Fidelity estimates that the size of this type of preferred stock is approximately $12 billion.As of October 5, preferred stock financing has supported the purchase of 135,979 BTC, of which more than 95,000 were purchased between March and May. Fidelity estimates that nearly 96% of Bitcoin's maximum supply has been issued, and the next halving is expected in less than two years.Bitcoin treasury company Strive Inc. completed a 15% Series A Perpetual SATS Preferred Stock offering on October 20, selling 7 million shares at $90 per share for total proceeds of $630 million; the dividend rate is calculated on a $100 par value and is 15% annualized.Bitcoin treasury company Strategy Inc. disclosed that it holds 848,517 BTC and purchased 267 BTC the previous week for $22.1 million, using proceeds from common stock issuance and cash. Fidelity noted that the performance of related instruments is affected by both Bitcoin and the issuing company. (Bitcoin.com News)
$500,000 Settlement: Fidelity Digital Assets Resolves California Investigation into Crypto Withdrawal Restrictions
California Attorney General Rob Bonta announced on October 16 that his office has reached a $500,000 settlement with Fidelity Digital Assets, National Association (the successor entity to Fidelity Digital Asset Services), regarding the company's prior practice of restricting California retail customers from transferring cryptocurrency to external wallets. Regulators determined that this practice may have violated the California Commodity Law of 1990, which restricts certain speculative commodity contracts unless the buyer receives physical delivery within a specified timeframe. The California government views the ability to withdraw cryptocurrency as a functional equivalent of delivery.From November 2022 to April 2025, California customers could buy and sell cryptocurrency on the Fidelity platform but were unable to send assets directly to external wallets. Fidelity stated that the restriction stemmed from the New York State Department of Financial Services (NYDFS) not having approved the relevant functionality at the time; approval was granted in April 2025, and the transfer feature was extended to all California retail customers in June 2025.
Analysis: Correlation between BTC market cap and U.S. 10-year real Treasury yields rises to historical high
According to a post by Fidelity Digital Assets (@DigitalAssets) on the X platform, for most of BTC's history, US real interest rates and BTC price action have moved largely independently, but the relationship between the two has now reached an unprecedented degree of alignment: the correlation between BTC's market cap and the 10-year US real Treasury yield has climbed to its highest level on record. The firm also noted that on Oct. 14, its tracked BTC momentum signal turned positive, with trend and volatility indicators simultaneously supporting the recent price strength, a combination that has historically typically been associated with more sustained rallies. Fidelity added that it will further analyze the drivers behind this shift and monitor whether capital flows can sustain the trend.
Fidelity Research VP: The bear market may not be over yet, BTC still faces the November cycle test
Odaily News: Recently, Chris Kuiper, Vice President of Research at Fidelity Digital Assets, stated: "The bear market may not be over yet." He believes that the rebound since August could be either the starting point of a new upward leg or merely a bounce within a bear market, and that "price upside does not guarantee the end of the bear market." Based on the four-year cycle framework, November is a key window to watch (the bottom of the previous bear market was in November 2022), but he also emphasized that historical cycles never repeat precisely, and BTC may decline again and set a new low in November or later.A relatively positive signal is that from June to mid-August, digital asset volatility remained low before rapidly expanding, a pattern similar to the late stages of previous bear markets, which may mean that selling pressure is nearing exhaustion. During the same period, stablecoin transfers, RWA, and institutional participation continued to grow.