This current drop in the Bitcoin Kimchi Premium comes as trading volumes on South Korea’s top five crypto exchanges plummet.
Fidelity is a privately owned investment manager.
Fidelity Investments Inc., commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts.
It is one of the largest asset managers in the world with $2.46 trillion in assets under management as of March 2018 and a combined total customer asset value number of $6.7 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, wealth management, securities execution and clearance, and life insurance.
This current drop in the Bitcoin Kimchi Premium comes as trading volumes on South Korea’s top five crypto exchanges plummet.
GBTC’s high management fees at 1.5% continue to hurt Grayscale as revenue of the firm remained flat in Q1 amid high redemptions from Bitcoin ETF.
Earlier this week, GBTC recorded daily net inflow after a very long time of constantly seeing outflows.