"The industry has the potential to improve a lot of people's lives. There are a lot of ways that this can happen," the exchange boss told US lawmakers.

Lynch said buyers of index funds and ETFs are losing out on market-beating returns, while Burry warned they're driving stocks to dangerous levels.

Lynch, who scored a 29% annualized return over 13 years as the head of Fidelity's Magellan fund, argued index-fund investors are "missing the boat."

Fidelity Investments is bringing a spot bitcoin exchange traded fund (ETF) to Canada, where it's expected to start trading imminently.

"This was a $2.2 BILLION 'whoopsie,'" said one Redditor who said the company mistakenly added 11 million shares.

"This is actually is a pretty sustainable move and it's not a bubble that's about to burst," Jurrien Timmer said.

Executives pointed to market regulators that have already approved such funds in Canada, Germany, Switzerland, and Sweden.

The brokerage firm said 9% of the new jobs will be in technology, with some new hires working on Fidelity's digital asset trading experience.

The number of 401(k) millionaires hit a record this year, Fidelity said. At the same time, Americans are leaving the workforce at younger ages.

The stock was the top order from retail traders on Fidelity, beating Exela Technologies and AMC Entertainment.

"Client demand to trade spot crypto assets is significant and growing," said Simon Forster of TP ICAP, a leading financial broker.

Fidelity was once the largest shareholder of GameStop with 9.3 million shares before selling the stake ahead of the meme-stock frenzy.

About 41% of Gen-Z investors use social media to educate themselves on investing, a new survey from Fidelity shows.

The Crypto Council for Innovations's hunt for a new chief comes amid increased chatter among regulators over how to better police cryptocurrencies.

The SEC is now looking at six applications for bitcoin ETFs. Investors are waiting for the agency to greenlight the first crypto ETF in the US.

The new youth account offering is part of Fidelity's push to attract new investors to financial markets.

Website and trade execution problems are among the issues reported by retail investors in a J.D. Power satisfaction survey.