In a recent interview, Fidelity Digital Assets President Tom Jessop said the company is considering supporting ethereum on its crypto platform as early as next year.
The goal of Fidelity’s Digital Assets division is to create “a blueprint for institutional-grade standards for the digital assets industry.” That involves creating new, regulatorily compliant systems and software for trading and holding cryptos, while also meeting the demands of 24/7 crypto traders and markets.
The division currently offers its biggest clients—family offices, hedge funds, pensions, institutional investors—the ability to trade bitcoin. But because of investor demand, it’s looking to expand into ethereum.
Sure, you can buy cryptos on a number of different platforms. Coinbase is a popular name… And payment processor Square allows you to buy bitcoin using your smartphone. But institutional investors are demanding Fidelity Digital Assets offer trading options beyond just bitcoin… and it seems they’re willing to wait until they’re available on Fidelity’s trusted platform.
In the interview, Jessop explained, “We’ve done a lot of work on ethereum… We’re very led by our clients.”
Translation: Our clients want to invest in this space, and they want to use our services to do it.