Fidelity Offers Ethereum Trading and Custody to Institutional Clients

[forex4you]

Fidelity Offers Ethereum Trading and Custody to Institutional Clients

<p class="MsoNormal">Fidelity Digital Assets, part of one of the most prominent asset managers in the world, Fidelity Investments, announced this week it will offer <a href="https://www.financemagnates.com/terms/e/ethereum/" target="_blank" id="230aa7bc-daf7-4523-af41-90671a2e79de_1" class="terms__main-term">Ethereum</a> trading and custody services to its base of institutional clients. The new product should be ready before the end of this month.</p><p class="MsoNormal">According to an e-mail, <a href="https://www.financemagnates.com/tag/fidelity/">Fidelity Digital Assets</a> sent its clients, after successfully finishing Ethereum Merge "many investors are looking at Ethereum through a new lens." Responding to their needs, the company has decided to allow institutional investors to trade using the world's second-largest cryptocurrency by market cap, starting from October 28.</p><p class="MsoNormal">"Investors will be able to buy, sell, and transfer ether, accessing the same operational excellence, robust security, and dedicated client service model provided for <a href="https://www.financemagnates.com/terms/b/bitcoin/" target="_blank" id="261088a9-0f41-4202-a73c-31f75ba6bd93_1" class="terms__secondary-term">Bitcoin</a> investments today," Fidelity Digital Assets said in the e-mail mentioned above.</p><blockquote class="twitter-tweet"><p lang="en" dir="ltr">Fidelity Digital Assets just sent an email to customers announcing that Ethereum will be available for purchase this month. <a href="https://t.co/3V0GCrOt5z">pic.twitter.com/3V0GCrOt5z</a></p>-- Bruce Fenton 🇺🇸 (@brucefenton) <a href="https://twitter.com/brucefenton/status/1582806632425062401?ref_src=twsrc%5Etfw">October 19, 2022</a></blockquote><p class="MsoNormal">The news comes moments after Fidelity launched its new Ethereum Index Fund. It has managed to raise more than $5 million from a sole investor since the first sale, which took place on September 26.</p><p class="MsoNormal">Fidelity Has Long Supported the Development of Digital Assets</p><p class="MsoNormal">Fidelity Investments manages $4.5 trillion in assets on a daily basis. The company noticed the potential in cryptocurrencies some time ago and decided to open a separate arm focused strictly on cryptos, Fidelity Digital Assets.</p><p class="MsoNormal">In September, the company announced it was considering allowing retail customers to trade Bitcoin (BTC) from its brokerage platform. Fidelity currently serves more than 40 million individual investors who execute nearly 3 million trades daily.</p><p class="MsoNormal">The company announced a <a href="https://www.financemagnates.com/cryptocurrency/news/fidelity-opens-building-in-the-metaverse-to-attract-younger-investors/">new metaverse</a> offering financial education and dance classes in the first half of the year. The move is aimed at attracting a younger generation of customers and investors to Fidelity's offerings.</p><p class="MsoNormal">Earlier, Fidelity Exchange Traded Products GmbH, one of the financial giant's European subsidiaries, began listing <a href="https://www.financemagnates.com/cryptocurrency/news/fidelity-lists-bitcoin-etps-at-six-swiss-exchange/">two new Bitcoin ETPs</a> in US Dollars and Swiss Francs at the SIX Swiss Exchange. </p><p class="MsoNormal">Interest in cryptocurrencies among institutional investors is rising so dynamically that Fidelity Digital Assets has decided to <a href="https://www.financemagnates.com/cryptocurrency/news/fidelity-digital-assets-to-expand-its-workforce-amid-surge-of-crypto-demand/">increase its workforce</a>. According to last year's information, the company was considering hiring up to 100 people for offices operating in Dublin, Boston and Salt Lake City.</p>

This article was written by Damian Chmiel at www.financemagnates.com.

Source: Fidelity Offers Ethereum Trading and Custody to Institutional Clients