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Asset manager Fidelity to offer ETH custody and trading

The crypto wing of $4.5 trillion asset manager Fidelity Investments offers its institutional clients Ether custody and trading services

Fidelity ETH

Asset manager Fidelity to offer ETH custody and trading. Source: shutterstock.com

According to an email reportedly sent to clients, Fidelity Digital Assets is going to offer institutional Ethereum capabilities for its clients starting next week. Investors will be able to buy, sell and transfer ETH in the same way they make bitcoin investments today. 

Fidelity has been a long supporter of cryptocurrencies and blockchain. In 2014, Fidelity began mining bitcoin. By 2018, the firm launched its institutional custody and trading platform FidelityDigital Assets. It now offers investors Crypto Industry Digital Payments ETF and Metaverse ETF. Moreover, the asset manager has the Fidelity Stack virtual office in Decentraland, where you can enhance your investment knowledge in a fun, gamified experience.

Besides trading, institutional Fidelity customers can borrow cash from third-party lenders using bitcoin secured on the Fidelity Digital Assets custody platform as collateral.

With the Ethereum Merge completed, many investors expressed their interest in the ETH token. Thus, a new Ethereum Index Fund has raised over $5 million since the first sale on Sept. 26 through a sole investor, according to an Oct. 4 filing.

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Nina Bobro

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Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.