Fidelity Investments

Fidelity is the latest high-profile traditional-finance firm to join the race after BlackRock Inc. made a splash with its June 15 application for a spot ETF, which opened the floodgates for others to try their hand at it, as well.

When Abigail Johnson, the chair and CEO of Fidelity Investments, was recently asked to advise those in the early stages of their career, she emphasized the core values that she and her firm have embraced for decades. "Don't doubt yourself. Keep at it. Stay looking ahead. Stay committed and stay true to yourself," she said.

The new service from the Boston-based asset manager comes at a time of soaring price increases for the world's most valuable digital asset.

The company founded by her grandfather remains committed to actively managing money for longtime clients, but under Johnson, Fidelity Investments is also aggressively going after younger investors who favor simple and affordable options.

U.S. financial stocks are down nearly 4% this week on rate pressure, but it’s even worse for European banks; the mutual fund giant will automatically sweep investor cash into a money fund yielding 1.9%.

The investment firm is launching a company called Akoya that it says will help ease the technical aspects of data sharing, as well as disputes and liability issues, for banks, fintechs and data aggregators.

Some banks have backed away from the technology, but Northern Trust, State Street and JPMorgan Chase are among those actively working on blockchain projects.

Fidelity Investments, which began a custody service to store bitcoin earlier this year, will buy and sell the world’s most popular digital asset for institutional customers within a few weeks, according to a person familiar with the matter.

As VR and AR mature, new possibilities open up for customer interaction in a virtual space.

Hiring more female investment advisers is a top priority of Fidelity's CEO.