Fidelity’s Crypto Platform Prepares to Start Offering Ethereum Trading Next Week
Fidelity Digital Assets, a subsidiary of Fidelity Investments, has informed customers that it will start offering ethereum trading and custody services on Oct. 28. “Investors will be able to buy, sell, and transfer ether, accessing the same operational excellence, robust security, and dedicated client service model provided for bitcoin investments today,” the firm said.
Institutional Ethereum Capabilities Coming to Fidelity Digital Assets Platform
Fidelity Digital Assets has sent an email to customers announcing that it will be offering ethereum custody and trading services this month.
“With the Ethereum Merge completed, many investors are looking at Ethereum through a new lens,” Fidelity Digital Assets wrote. “Wherever you are in your exploration of Ethereum and ether, its native token and currently the second-largest digital asset by market capitalization, Fidelity Digital Assets has the capabilities to help.”
The investment firm added, “Institutional Ethereum capabilities are coming to the Fidelity Digital Assets platform on October 28, 2022,” elaborating:
Investors will be able to buy, sell, and transfer ether, accessing the same operational excellence, robust security, and dedicated client service model provided for bitcoin investments today.
A subsidiary of Fidelity Investments, Fidelity Digital Assets is an institutional custody and trading platform for digital assets that operates as a separate business. Fidelity began researching bitcoin and developing blockchain solutions in 2014. The investment firm established Fidelity Digital Assets after seeing demand from its clients. “Today, we service hundreds of institutions globally,” the firm noted on its website.
The company is also offering a Fidelity Ethereum Index Fund, available to accredited investors with a minimum investment is $50,000, according to a filing with the Securities and Exchange Commission (SEC) earlier this month. A Fidelity spokesperson told Barron’s Advisor: “We have continued to see client demand for exposure to digital assets beyond bitcoin.”
What do you think about Fidelity Digital Assets launching ether trading and custody services? Let us know in the comments section below.