Fidelity, Bitcoin and Ethereum
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$73,024.00
6.00%$2,660.53
6.62%$607.84
2.81%$181.47
3.78%$1.00
0.04%$0.530023
3.22%$2,658.41
6.61%$0.174538
14.90%$0.165858
1.39%$5.12
3.07%$0.353755
5.48%$0.00001924
10.98%$3,153.25
6.62%$27.03
5.81%$72,915.00
6.00%$2,658.04
6.42%$385.13
7.32%$11.62
7.29%$4.24
5.05%$6.13
1.68%$2.03
23.17%$0.996576
-1.59%$73.65
5.61%$4.46
7.35%$10.01
12.64%$2,793.32
6.38%$7.94
5.85%$0.00000976
11.62%$541.47
6.60%$8.12
5.94%$1.35
12.06%$162.97
1.41%$19.42
4.83%$0.09663
3.76%$0.113589
-3.53%$1.86
10.09%$19.08
2.81%$1.002
0.06%$2.67
17.25%$0.998788
0.16%$0.336848
6.33%$39.79
2.89%$1.42
9.57%$152.28
2.27%$3.71
5.24%$0.547774
7.83%$1.72
11.28%$0.076788
5.03%$6.11
8.77%$0.60799
6.32%$0.7224
7.91%$5.15
8.95%$20.34
9.59%$0.050102
5.27%$0.0226866
5.60%$4.56
5.45%$1.79
22.17%$1.18
0.99%$2,656.89
6.27%$0.00002238
9.91%$0.161072
7.31%$0.396096
11.06%$0.00015016
14.44%$1.071
4.22%$0.395661
12.97%$2,976.20
6.07%$2,780.65
6.72%$2.12
9.77%$1.23
7.45%$1.38
3.08%$7.06
5.64%$5.37
10.85%$8.97
3.78%$17.14
10.86%$9.23
1.56%$72,850.00
5.98%$0.391163
15.77%$0.739903
12.69%$52.54
4.72%$0.123653
7.99%$0.102134
11.48%$0.0190604
10.37%$1,143.09
3.74%$1.097
9.94%$222.73
3.70%$0.01917274
8.39%$2,725.82
6.42%$0.01023754
9.85%$62.48
4.00%$2.69
0.66%$0.336528
6.30%$0.940639
8.54%$0.0000009
4.25%$1.30
7.06%$0.02150127
8.40%$0.925194
10.52%$3.21
-3.05%$0.545405
7.82%$2,648.01
6.32%$5.12
15.79%$72,987.00
5.83%$0.00000201
19.43%$1.084
7.21%$0.397328
8.48%$5.04
7.43%$36.61
11.67%$9.49
5.18%$1.001
-0.08%$72,994.00
6.23%$0.00726231
7.54%$0.126835
2.12%$0.00170956
15.17%$10.20
7.86%$0.01413088
4.61%$0.00003612
4.53%$0.468391
4.91%$25.74
10.15%$0.154914
10.96%$72,847.00
5.86%$0.696391
13.28%$0.254866
11.93%$189.76
3.53%$2,772.37
1.01%$0.67686
6.89%$72,791.00
5.98%$1.053
6.66%$0.805539
17.31%$0.00961698
11.01%$1.019
5.31%$0.997711
0.12%$0.549174
8.51%$0.00924186
13.03%$2,736.44
6.75%$0.259877
5.63%$1.36
12.81%$0.01359399
6.49%$2,658.86
6.57%$1.001
0.10%$2.42
9.58%$1.21
1.79%$1.00
0.02%$38.63
1.32%$0.311777
8.21%$0.063759
5.92%$17.52
9.39%$216.09
0.91%$1.58
6.81%$0.00000026
12.19%$2.94
6.89%$2,767.99
0.47%$0.00009376
4.56%$0.055537
3.55%$2,657.76
6.61%$2,877.63
6.40%$0.077663
1.48%$0.454244
16.50%$1.85
5.05%$1.71
18.16%$0.138251
11.69%$2,657.94
6.33%$0.00497177
10.52%$0.996901
0.07%$1.50
11.60%$8.51
8.75%$1.053
6.79%$0.070624
12.60%$0.236366
10.05%$1.056
4.88%$2,649.65
6.39%$0.00000044
1.06%$0.00
11.26%$24.15
6.11%$0.057243
6.82%$0.02819279
1.80%$0.118197
8.18%$0.140823
10.78%$3.67
10.64%$72,852.00
5.81%$0.404382
1.92%$11.36
6.91%$0.993127
0.70%$0.04243214
12.60%$1.068
0.16%$2,657.63
6.37%$0.078318
17.03%$45.06
6.72%$1.065
0.32%$0.013463
5.67%$2,656.76
6.42%$7.96
8.84%$0.056591
5.86%$0.501168
4.69%$0.347996
10.39%$0.681108
9.85%$0.204541
16.83%$1.001
0.14%$1.00
-0.01%$3.27
9.63%$0.72185
3.94%$0.00666738
11.48%$2,845.07
6.44%$183.06
3.73%$1.51
4.64%$0.266192
7.01%$1.60
12.94%$2,764.84
6.17%$0.00063903
8.56%$2,922.25
5.94%$83.82
0.99%$0.173794
14.86%$0.784806
8.43%$0.322709
7.15%$0.317864
17.48%$0.459312
8.07%$2.47
0.35%$0.258896
8.86%$1.51
11.48%$0.681341
13.31%$0.00385294
3.73%$0.00094046
10.29%$0.347446
8.66%$0.00171816
9.28%$72,529.00
6.23%$3.61
-2.26%$0.299522
20.13%$1,464.74
5.87%$2.94
27.89%$2,812.76
6.25%$2.44
18.49%$0.02947271
2.12%$2.98
2.10%$72,789.00
5.83%$0.338699
9.57%$46.37
19.35%$0.01479964
6.93%$3.64
3.11%$17.89
5.77%$0.72877
10.29%$23.25
3.93%$0.00482185
6.29%$0.094331
0.17%$6.73
8.47%$0.151546
7.54%$0.240592
7.78%$4.07
6.27%$0.01828657
9.59%$0.362504
3.18%$0.02610549
7.18%After starting with Bitcoin, $4.5 trillion asset manager Fidelity is now turning to Ethereum.
“Institutional Ethereum capabilities are coming to the Fidelity Digital Assets platform on October 28, 2022,” Fidelity Digital Assets said in an email sent to its clients. The offering will only be available for Fidelity’s existing institutional clients who already trade or custody Bitcoin, which the firm provided services for beginning in 2018.
Fidelity has long since shown an interest in crypto assets. Following the Ethereum merge, which completed the network's transition to proof of stake, the asset manager said that many investors are beginning to look at Ethereum "through a new lens.” The upgrade, years in the making, also significantly slowed the supply issuance of ETH.
The custody offering is not related to Fidelity’s Digital Assets Account, which already lets institutional clients add Bitcoin to their 401(k) retirement savings plans. The firm has already received blowback from certain members of Congress for offering the latter service, particularly from Democratic Senator Elizabeth Warren.
Back in May, Fidelity Digital Assets President Tom Jessop told the Wall Street Journal that the company was hiring over 100 tech workers to build out additional blockchain services, including Ethereum trading and custody.
Last month, the WSJ reported that Fidelity may soon bring Bitcoin trading to retail customers—a rumor also publicly shared by Galaxy Digital CEO Mike Novogratz.
Fidelity currently provides two exchange-traded funds (ETFs) for metaverse and crypto payment-related companies.
It’s also launched a Bitcoin spot ETF in Canada, but remains unable to do the same in the U.S. due to roadblocks from the Securities and Exchange Commission.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.