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- Fidelity Digital Assets will support Ethereum in the near future.
- The firm also wishes to offer its trading services to retail clients.
Christine Sandler, head of sales and marketing at Fidelity Digital Assets, said the investment firm will someday seek to serve retail clients as well. Christine made this announcement in an interview speaking with Laura Shin for the Unchained podcast.
He said the company is constantly researching the retail sector to see how the company could make its way into the market. The investment firm that primarily offers its Bitcoin investment plan to corporate institutions believes that by serving retail clients, the firm can improve its crypto offering as well.
Fidelity may soon support Ethereum
In the interview, Sandler said the company is also looking to support other cryptocurrencies in addition to Bitcoin. According to her, the company must seek to expand trading opportunities for its client base. Fidelity also revealed that the cryptocurrency firm needs to look into the possibility of staking new digital assets. In his words, a digital asset keeper like theirs offering proof of stake assets should also offer staking services:
I think in order to be a digital asset keeper and offer proof of stake assets, you definitely need to offer staking services. It puts you at a disadvantage, so I expect us to create those services once we can support Ethereum.
He believes offering such services would put the company at an advantage with its customers. He also noted that the company would have had to develop their own system to be able to support the functionality. This should be done before the company starts supporting Ethereum on its platform.
Ethereum is the second most popular crypto asset on the market. The growing interest in the crypto space has led to it garnering more attention from other crypto investors. ETH has also gained great popularity because decentralized finance (DeFi) tokens are mostly built on it. The DeFi sector has seen a huge surge this year as more investors were betting on different tokens in the ecosystem.
Investment firms are still focused on Bitcoin
Christine noted that large corporate investors in the cryptocurrency industry are still primarily focused on the market’s leading crypto asset, Bitcoin. Although there have been requests for Ethereum and other crypto assets, the attention of institutions has not yet departed from BTC:
Obviously. Unavoidable. We think about it all the time and we get, look and obviously get a lot of inbound interest from retail clients. And as we said before, however, to be a great institutional provider, we need to stay focused on this institutional client and not stray from that focus …
As already reported by Crypto News Flash, institutional investors like PayPal are buying a huge amount of new Bitcoins that are mined. This can lead to a further increase in the price of BTC in the long run.
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