Fidelity to Offer ETH Trading to Institutional Clients

October 20, 2022

MCP News Free

Fidelity to Offer ETH Trading to Institutional Clients

Starting from October 28, Fidelity Digital Assets through its crypto platform will now offer Ethereum trading to institutional clients as per a recent memo by the firm.

In an email sent to clients by the investment firm as shared on Twitter, it says that the successful transition of Ethereum to proof-of-stake has led many investors to look at Ethereum differently.

Fidelity Digital Assets just sent an email to customers announcing that Ethereum will be available for purchase this month. pic.twitter.com/3V0GCrOt5z
— Bruce Fenton (@brucefenton) October 19, 2022

According to the post, institutional investors will be able to sell, buy and transfer Ethereum “using the same model provided for Bitcoin investments today.”

This announcement came weeks after the investment firm launched new Ethereum Index Funds and has been able to raise over $5 million from a sole investor since the first sale in late September.

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Fidelity Has Long Supported the Development of Virtual Assets

For a long time, Fidelity investments has been a supporter of cryptocurrencies like Bitcoin due to the potential it noticed in digital assets.

In 2021, the investment firm said that 90% of its biggest customers were interested in accessing cryptocurrency.

Earlier this year, in its attempt to attract younger generations of clients and investors to its offerings, Fidelity announced a new metaverse offering financial education.

Last month, Mike Novogratz, the CEO of Galaxy Digital said that Fidelity was reportedly looking to offer Bitcoin to millions of its retail customers.

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