According to an e-mail, Fidelity Digital Assets sent its clients, after successfully finishing Ethereum Merge “many investors are looking at Ethereum through a new lens.” Responding to their needs, the company has decided to allow institutional investors to trade using the world’s second-largest cryptocurrency by market cap, starting from October 28.
The news comes moments after Fidelity launched its new Ethereum Index Fund. It has managed to raise more than $5 million from a sole investor since the first sale, which took place on September 26.
Fidelity Investments manages $4.5 trillion in assets on a daily basis. The company noticed the potential in cryptocurrencies some time ago and decided to open a separate arm focused strictly on cryptos, Fidelity Digital Assets.
In September, the company announced it was considering allowing retail customers to trade Bitcoin (BTC) from its brokerage platform. Fidelity currently serves more than 40 million individual investors who execute nearly 3 million trades daily.
The company announced a new metaverse offering financial education and dance classes in the first half of the year. The move is aimed at attracting a younger generation of customers and investors to Fidelity’s offerings.
Earlier, Fidelity Exchange Traded Products GmbH, one of the financial giant’s European subsidiaries, began listing two new Bitcoin ETPs in US Dollars and Swiss Francs at the SIX Swiss Exchange.
Interest in cryptocurrencies among institutional investors is rising so dynamically that Fidelity Digital Assets has decided to increase its workforce. According to last year’s information, the company was considering hiring up to 100 people for offices operating in Dublin, Boston and Salt Lake City.
