Fidelity Digital Assets has reportedly made an announcement of offering new services to its clients. The asset manager, which is responsible for the management of $4.5 trillion in assets is getting into crypto.
Fidelity Investments Enters Crypto
Fidelity Digital Assets officials announced that they would provide their clients with access to trading services and custody of Ether (ETH).
The officials confirmed that Fidelity Digital Assets would not be dealing with the crypto sector directly. Instead, it would let its cryptocurrency wing ‘Fidelity Investments’ do the job.
Fidelity Investments aims to launch the service the by end of this month.
Fidelity’s Communication Shared via Twitter
One of the clients at Fidelity Investments tweeted the email communication he had received from the company about the services.
The company has communicated that they have decided to launch the ETH custody and trading platform on October 28, 2022. Would be the institutional clients that would have access to these services.
Through the service, the users would be able to buy Ethereum and perform trades in the digital asset to generate gains.
Fidelity investments have already provided clients with the ability to perform the same for Bitcoin. The company has now integrated Ethereum into the same model and soon, the clients will have access to ETH.
ETH’s Demand is Growing
Ever since the Merge has taken place, ETH’s PoS consensus protocol has become an attractive asset for institutional investors.
In the past, institutional investors were only interested in Bitcoin. The trend is now changing and institutional investors are expanding their exposure to cryptocurrencies such as ETH.
As ETH’s orientation has shifted to being staked, more and more institutional investors are buying ETH. With the exposure growing in ETH, the demand and value of the asset would increase tremendously.
Fidelity has a Strong belief in Bitcoin
Fidelity is among the mainstream institutions that have a strong belief in the market value of Bitcoin. For a long time, Fidelity has continued advocating Bitcoin, proving to be a loyal proponent.
For Fidelity, Bitcoin is one of the most valuable and very important assets in the market. It has been around for a while and is gradually earning the spot of being equal to gold.
Many institutions have reportedly compared Bitcoin with the likes of gold, which is very high praise for digital assets. In the past, Fidelity had issued a paper where it called Bitcoin a highly superior form of money.
Fidelity is a firm with over $4 trillion in funds under management, proving it comprises some of the richest investors in the world.
With the company offering clients ETH, it is only a matter of time before ETH experiences a significant boost in value.