According to an email sent to clients, Fidelity Digital Assets will offer institutional Ethereum capabilities to its clients starting next week.
Fidelity Digital Assets, the Crypto Wing of $4.5 Trillion Asset Manager Fidelity Investments, Is Set to Offer Ether
ETH
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$1,186
deposit and trading services to its institutional clients later this month.
According to an email to Fidelity clients shared on Twitter and confirmed to Cointelegraph by the firm, the crypto arm has announced new “Ethereum Institutional Capabilities” for institutional investors, effective October 28, 2022.
Fidelity Digital Assets has just sent an email to customers announcing that Ethereum will be available for purchase this month. pic.twitter.com/3V0GCrOt5z
— Bruce Fenton (@brucefenton) October 19, 2022
The post says that investors will be able to buy, sell, and transfer ETH, “using the same model offered today for Bitcoin investments.”
“With the Ethereum merger complete, many investors are looking at Ethereum through a new lens,” Fidelity said, likely referring to Ethereum’s switch to the environmentally friendly proof-of-stake (PoS) model.
Fidelity has long supported cryptocurrencies like Bitcoin
BTC
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, in a previous article outlined his belief that it is a higher form of money rather than just technology.
This latest announcement comes after a new Ethereum Index Fund raised more than $5 million since the first sale on Sept. 26 through a single investor, according to a filing on Oct. 4.
Related: Fidelity Will Soon Send Retail Clients To Crypto – Galaxy CEO
In April, Fidelity announced plans to allow 401(k) retirement savings accounts to invest directly in Bitcoin.
Over the last year, the company announced that 90% of its largest customers were interested in accessing Bitcoin and other cryptocurrencies.
On Sept. 13, Galaxy Digital CEO Mike Novogratz said that Fidelity is working to offer bitcoin to its retail investor base of 34.4 million.
Updated on October 25 with confirmation from a Fidelity spokesperson that the service will launch on October 28.
