Fidelity Investments to Launch Ethereum (ETH) Custody and Trading for Institutional Clients

Fidelity Digital Assets has announced that it would be launching Ethereum (ETH) custody and trading services.

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Fidelity Digital Assets, the cryptocurrency arm of Fidelity Investments, has announced that it will be launching Ethereum (ETH) custody and trading services to its institutional clients before the end of this month.

Fidelity to Add ETH Custody and Trading Services

The crypto division of Fidelity has announced its intentions to introduce Ether (ETH) custody and trading services to its institutional clients. Fidelity is one of the world’s largest asset managers, with over $4.5 trillion in assets under management (AUM).

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In an email from Fidelity Digital Assets to its clients, the crypto division will expand “Institutional Ethereum capabilities” for institutional investors. Beginning on October 28, 2022, Fidelity will support custody and trading for Ether.

According to the announcement, when ETH services are launched, users will be able to purchase, sell, and transfer ETH “using the same paradigm given for Bitcoin investments today.” Bruce Fenton shared a copy of the email on Twitter:

Growing Need for ETH Products

Fidelity’s latest news comes just weeks after the asset manager launched its new Ethereum Index Fund. According to the email announcement, the ETH custody service is in response to the need of institutional investors for ETH products.

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Fidelity also notes that “many investors are looking at Ethereum through a new lens” since the successful launch of the Ethereum merge. 

On the Flipside

  • Fidelity’s 401K plan has received criticism from regulators due to the volatility of crypto.

Why You Should Care

The move is in response to the growing demand for ETH products and part of Fidelity’s plans to make crypto products easily available to institutional clients.

Find more details about the ETH index fund below:
Fidelity Investments Launches New Ethereum Index Fund With $5 Million Raised

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia