Fidelity Digital Assets, the crypto wing of $4.5 trillion asset manager Fidelity Investments, is about to provide Ether (ETH) custody and trading providers to its institutional clients later this month.
According to an electronic mail to Fidelity’s prospects shared on Twitter, the crypto arm introduced new “Institutional Ethereum capabilities” for institutional traders beginning on Oct. 28, 2022.
Fidelity Digital Assets simply despatched an electronic mail to prospects asserting that Ethereum might be accessible for buy this month. pic.twitter.com/3V0GCrOt5z
— Bruce Fenton (@brucefenton) October 19, 2022
The put up states that traders might be ready to purchase, promote and switch ETH, “using the same model provided for bitcoin investments today.”
“With the Ethereum Merge completed, many investors are looking at Ethereum through a new lens,” mentioned Fidelity, seemingly referring to Ethereum’s shift to the environmentally-friendly proof-of-stake (PoS) mannequin.
Fidelity has been an extended supporter of cryptocurrencies resembling Bitcoin (BTC), outlining in a previous paper their perception that it’s a superior type of cash relatively than simply tech.
This newest announcement comes within the wake of a brand new Ethereum Index Fund, which has raised over $5 million for the reason that first sale on Sept. 26 by means of a sole investor, in accordance to an Oct. 4 submitting.
Related: Fidelity will ‘shift’ retail prospects into crypto quickly — Galaxy CEO
In April, Fidelity introduced plans to permit 401(okay) retirement saving account holders to straight put money into Bitcoin.
While final yr, the corporate introduced that 90% of its largest clients have been interested by accessing Bitcoin and different cryptocurrencies.
On Sept. 13, Galaxy Digital CEO Mike Novogratz mentioned that Fidelity was reportedly working towards providing Bitcoin to its 34.4 million retail investor base.
Cointelegraph reached out to Fidelity relating to the brand new service however has not obtained an instantaneous response on the time of publication.
