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A senior executive at Fidelity Digital Assets says the company will expand its institutional crypto services to include Ethereum and retail clients in the future, but he’s in no rush.
Christine Sandler, head of sales and marketing at the company, a separate cryptocurrency clearing and custody entity launched last year by Fidelity Investments, one of the greatest asset managers in the world, says in an interview with Unchained Podcast:
“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 though, to be a great institutional provider, we need to stay focused on this institutional client and not stray from that focus …
“It is not in the short term roadmap to offer access to retail. Retail has some wonderful and robust options, whether it’s players like PayPal and Square who are known to them where they use them all the time, or a more digitally native offering like Coinbase. “
Ethereum on the horizon
Ethereum is certainly on Fidelity’s agenda as well, Sandler says, including support for staking, but no launch date has been set.
“It’s clearly on the road map. I would be remiss if I could indicate a date, but definitely on the road map … I think that in order to be a keeper of digital assets and offer proof of stake assets, you must definitely offer staking services. It puts you at a disadvantage, so I expect us to create these services once we are able to support Ethereum. “
But for now the main focus is bitcoin.
“To be frank enough, most of what we hear is bitcoin. Sometimes, we hear investors trying to get access to Ethereum, but most of what we still hear is bitcoin,” he says. “So, the predominant institutional narrative is about bitcoin.”
