Fidelity Digital Assets Set to Support ETH Trading
Fidelity Digital Assets will begin offering Ethereum (ETH) trading services to its institutional clients starting October 28.
Fidelity Digital Assets, an independent subsidiary of Fidelity Investments focused solely on digital assets, launched in 2018 with services in Bitcoin custody and trading. The company has also received several licenses from the New York Department of Financial Services.
According to confirmed sources from The Block, Fidelity Digital Assets will enable investors to buy, sell, and transfer Ether later this month. This move is a significant step forward from the plan announced in June to roll out Ethereum (ETH) custody and trading services. It’s also a positive indicator of the sustainable value of this cryptocurrency despite the recent downturn in the broader market.
Previously, both Fidelity Digital Assets and its parent company, Fidelity Investments, have made several crypto-related announcements.
Fidelity Investments is also exploring the possibility of launching Bitcoin trading for retail investors. In response, Fidelity Digital Assets, Charles Schwab, and Citadel Securities announced plans to launch a digital asset exchange called EDX Markets.
Additionally, Fidelity Investments has revealed plans to submit a proposal for an Ethereum Index Fund to the Securities and Exchange Commission (SEC) on September 26.
