Fidelity Digital Assets will be offering Ether custody and trading services to its institutional clients from October 28. This is Fidelity Investments’ latest step towards making crypto available to institutional clients.
It started a new Ethereum Index Fund for accredited investors, earlier this month, after raising about $5 million. Investors accessing the Institutional Ethereum will be able to buy, sell and transfer Ether. They can enjoy the same operational excellence, robust security, and dedicated client service model provided for Bitcoin investments.
Fidelity Digital Assets has come up with this new option as many investors are looking at Ethereum through a new lens with the completion of Ethereum Merge. The firm in its latest report “Ethereum Staking: What to Expect After the Merge” noted that the upgrade was several years in the making and is largely regarded as one of the most significant events in the history of digital assets.
In April, the firm disclosed plans to allow 401(k) retirement saving account holders to invest directly in Bitcoin. Fidelity Investments in 2021 said that 90% of its biggest clients were interested in accessing Bitcoin and other cryptocurrencies. It was working toward offering Bitcoin to its 34.4 million retail investor base.