After reporting on Wednesday that Fidelity users would be able to add Second Market’s Bitcoin Investment Trust to their list of securities in their Individual Retirement Accounts [IRA], we here at ccn must issue a correction. Fidelity has done an apparent 180 in the time that this story has gone viral. On Wednesday, it was first reported on Marketwatch that some Fidelity clients had been allowed to invest in the Bitcoin Investment Trust through their IRAs. However, earlier today, Fidelity’s director of public relations Rob Beauregard said specifically in a phone interview:
We are no longer allowing that.
It seems that the publicity they garnered from allowing one user to invest in Second Market’s Bitcoin Investment Trust was too much for Fidelity, and after reevaluation they have decided to step away from the situation entirely. Fidelity has not stated exactly why the Bitcoin Investment Trust, which had previously been approved by Fidelity as an eligible investment, has been dropped from their program.
Please comment with your thoughts, why do you think Fidelity has decided to ban Bitcoin from their users?
Have a cryptic day, mis amigos.