Fidelity Digital Assets has added support for Ethereum trading to institutional trading at the beginning of each month. The news comes through a widely amplified screenshot of a leaked email that was reportedly sent to the firm’s clients.
Let us take a closer look at what is known so far about this leak. With realized Ethereum support expected in just one week, let’s see.
Fidelity Digital Assets Takes a Big Step
Fidelity Investments, one of the largest global financial institutions, has continued to invest in the digital assets division. While the perspective last year from Fidelity Digital Assets – throughout the midst of the bull market – was that institutional demand for Ethereum was not sufficient, that seems to have changed course. The memo leaked by Fidelity Digital states that Fidelity Digital will offer Ether trading, buying and selling for institutional clients starting October 28.
Some people find this surprising considering the continued bear market conditions.
According to leaks this week, Ether (ETH), trading will be available for institutional clients at Fidelity Digital Assets later in the month.Source: ETHUSD at TradingView.com | Source: ETH-USD on TradingView.com
What are the Building Blocks of Institutional Investment?
However, this announcement might not surprise everyone. FidelityDigital conducted last year’s survey and found that investors in digital assets are skeptical of price volatility as well as a lack of fundamentals.
The market is now relatively stable (albeit bear market stability) and the use cases for Ethereum’s blockchain-based utility are greater than ever. Is that enough to make institutional investments more attractive? Fidelity digital’s move to do so suggests it. Additional movement throughout this year has suggested Fidelity’s interest in continuing a push into digital assets, too, such as a bullish perspective in recent months from Fidelity’s Director of Macro Jurrien Timmer, and company-wide support for Bitcoin allocations in employee 401k’s. Just last week, the company continued it’s push, launching an Ethereum Index Fund.
We’ll see how institutional investment responds to Fidelity’s new offering, but regardless, it only bodes well for the big-picture future of the broader crypto landscape.
Featured image from FidelityDigitalAssets.com, Charts from TradingView.com Disclaimer: The author of this article is not affiliated or connected to any parties listed in the article. This content is not intended to be financial advice.
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