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Fidelity’s Crypto Platform to Add Ether Trading for Institutional Clients
The move comes after Fidelity launched a new Ethereum Index Fund for accredited investors.
Updated May 9, 2023, 4:00 a.m. Published Oct 19, 2022, 9:38 p.m.
Institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) beginning Oct. 28, according to a memo sent out by the investment firm.
The move is the latest step towards making crypto available to institutional clients by Fidelity, the parent company of Fidelity Digital Assets. Earlier this month, the giant asset management firm said it started a new Ethereum Index Fund for accredited investors, after raising about $5 million since sales started on Sept. 26.
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Read more: Asset Management Giant Fidelity Adds to Crypto Offerings With Ethereum Index Fund
Fidelity launched its crypto-focused institutional custody and trading platform Fidelity Digital Assets in 2018. The firm currently offers two exchange-traded crypto funds dedicated to the metaverse and digital payments, respectively.
Fidelity's clients will be able to buy, sell, and transfer ether, according to the memo. The contents of the memo were confirmed to CoinDesk by a Fidelity spokesperson.
Read more: TradFi Investors Will Love Ethereum’s Merge
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