Fidelity Digital Assets will begin offering institutional Ethereum capabilities to their clients next week, according to an email that was reportedly sent to customers.
Later this month, institutional clients of Fidelity Investments, the $4.5 trillion asset manager's crypto division, will be able to take advantage of Ether (ETH) custody and trading services.
The cryptocurrency division announced new "Institutional Ethereum capabilities" for institutional investors beginning on Oct. 28, 2022, according to an email to customers that was shared on Twitter.
According to the post, "using the same model provided for bitcoin investments today," investors will be able to purchase, sell, and transfer ETH.
Fidelity stated, "With the completion of the Ethereum Merge, many investors are looking at Ethereum through a new lens," likely referring to Ethereum's switch to the eco-friendly proof-of-stake (PoS) model.
In a previous paper, Fidelity outlined their belief that cryptocurrencies like Bitcoin (BTC tickers down $19,057) are a superior form of money than just technology.
An Oct. 4 filing reveals that a new Ethereum Index Fund has raised over $5 million since its initial sale on Sept. 26 through a single investor. This latest announcement comes in the wake of that fund.
Fidelity announced plans in April to allow Bitcoin investments directly from 401(k) retirement savings accounts.
The business made the announcement the previous year that 90% of its largest customers were interested in gaining access to Bitcoin and other cryptocurrencies.
Mike Novogratz, CEO of Galaxy Digital, stated on September 13 that Fidelity was working toward offering Bitcoin to its 34.4 million retail investors.
Crypto Express contacted Fidelity regarding the new service, but at the time of publication, the company did not respond immediately.
