Fidelity Investments Inc has started allowing clients to use its website to view their holdings of bitcoin and other cryptocurrencies held through digital wallet provider Coinbase, the company said on Wednesday.
The initiative, previously tested with the Boston-based money manager’s employees, is a rare example of an established financial services company warming up to cryptocurrencies.
Starting Wednesday, most Fidelity clients will be able to authorize Coinbase, one of the largest crypto-currency exchanges in the United States, to provide the fund manager with data on their holdings.
Through the experiment, the company said it aims to learn more about digital currencies, which have been proliferating since the creation of Bitcoin, the oldest and most valuable of these assets.
Coinbase enables users to buy and trade Bitcoin as well as competitor virtual currencies Ethereum and Litecoin.