Fidelity Digital Assets will expand its line of services to include Ethereum-based cryptocurrency services starting Oct. 28.
A letter to investors from Fidelity reveals that starting October 28, a subsidiary of the investment giant with $4.5 trillion in assets under management, Fidelity Digital Assets, will begin offering institutional clients as well as wealthy individuals the opportunity to have access to Ethereum-related services. We are talking about the ability to buy and sell this digital asset, as well as providing storage services (custodial services).
Fidelity stressed that the services will be provided similar to the methodology used for bitcoin-related services. In explaining their motivation for bringing the new services to market, Fidelity said that “after the Merge update to Ethereum was completed, many investors began to look at this digital asset from a different perspective,” referring to Ethereum’s transition from Proof-of-Work consensus work to Proof-of-Stake protocol.
Recall that this week the European Commission admits to prohibit Bitcoin mining on the territory of European Union countries, at the same time was sympathetic to Ethereum, having noted positively the transition of Ethereum to work on the principle of Proof-of-Stake.
It should be noted that in materialsFidelity in October submitted to the U.S. Securities and Exchange Commission, there is information that the company launched an index fund on Ethereum (Ethereum Index Fund) from September 26, an investor in which one of the organization’s customers invested about $ 5 million.