Fidelity opens up Ethereum trading to institutional investors

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Fidelity Investments’ digital assets unit is allowing institutional investors the opportunity to buy Ethereum (ETH) among other capabilities, according to an email the investment giant sent to clients.

This latest Ethereum news was also highlighted by Bruce Fenton, a stockbroker at Watchdog Capital.

Fidelity to offer Ether trading and custody

Fidelity’s announcement targets institutional investors looking for an entry into the Ethereum market following the smart contracts platform’s recent upgrade from a proof-of-work to a proof-of-stake blockchain.

Fidelity Digital Assets indeed notes this in the note to clients, pointing to its move to open up ETH custody and trading services to the recently completed Ethereum merge. The email notes in part:

“Wherever you are in your exploration of Ethereum and ether, its native token and currently the second largest cryptocurrency by market capitalization, Fidelity Digital Assets has the capabilities to help.”

As per the notification, interested institutional investors can access buying, selling and transfer of Ether via the dedicated digital assets unit as from 28 October. Users will enjoy the same security and services that the company offers to bitcoin investments, the email reads.

Fidelity launched its institutional-focused crypto custody and trading subsidiary in 2018. As we reported in September this year, the company joined Charles Schwab, Citadel Securities and other Wall Street firms to roll out the crypto trading platform EDX Markets.

The Ethereum trading offering to institutional clients comes weeks after Fidelity announced an Ethereum Index Fund for accredited investors.

The post Fidelity opens up Ethereum trading to institutional investors appeared first on Invezz.

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