- Fidelity Digital Assets will support Ethereum in the near future.
- The company also wants to offer its trading services to retail clients.
Christine Sandler, the Head of Sales and Marketing at Fidelity Digital Assets, has said that the investment company would someday look to serve retail customers too. Christine made this announcement in an interview talking to Laura Shin for the Unchained podcast.
She said that the company is constantly looking at the retail sector to see how the company could make an inroad into the market. The investment company which mostly offers its Bitcoin investment plan to corporate institutions believes that by serving retail clients, the firm can improve its crypto service offering too.
Fidelity might soon support Ethereum
In the interview, Sandler made it known that the firm is also looking at supporting other cryptocurrencies apart from Bitcoin. According to her, the firm has to look to expand trading opportunities for their customer base. Fidelity also disclosed that the crypto firm has to look at the possibility of staking new digital assets. In her words, a digital asset custodian like theirs that offers proof of stake assets would need to also offer staking services:
I think to be a digital asset custodian, and offering proof of stake assets, you definitely have to offer staking services. It puts you at a disadvantage, so I would expect us to build up those services once we can support Ethereum.
She believes that offering such services would put the firm at an advantage with their customers. She also noted that the firm would have to build up its system to be able to support the feature. This would be done before the firm starts supporting Ethereum on its platform.
Ethereum is the second most popular crypto asset in the market. The growing interest in the crypto space has led to it garnering more attention by other crypto investors. ETH also gained a wide popularity because Decentralized Finance (DeFi) tokens are mostly built on it. The DeFi industry witnessed a massive surge this year as more investors were staking on different tokens on the ecosystem.
Investment firms are still focused on Bitcoin
Christine noted that large corporate investors in the crypto industry are still focused majorly on the leading crypto asset in the market, Bitcoin. While there have been inquiries about Ethereum and other crypto assets, the focus of institutions has not yet wavered away from BTC:
Of course. Inevitable. We think about it all of the time, and we do get, look, and we do obviously, get a lot of inbound interest from retail clients. And as we said before though, for us to be a really great institutional provider, we have to remain focused on this institutional client and not to take away from that focus…
As Crypto News Flash already reported, institutional investors like PayPal are buying a huge amount of new Bitcoin that are mined. This can lead to a further rising price of BTC in the long term.