Fidelity’s Crypto Platform to Add Ether Trading for Institutional Clients

The move comes after Fidelity launched a new Ethereum Index Fund for accredited investors.

By Michael Bellusci

Oct 19, 2022 at 9:38 p.m. UTC

Updated Oct 19, 2022 at 10:00 p.m. UTC

Fidelity Investments sign (Jonathan Weiss/Shutterstock) — (Jonathan Weiss/Shutterstock)

Michael Bellusci

Michael Bellusci is CoinDesk's crypto reporter focused on public companies and digital asset firms.

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Institutional clients of Fidelity Digital Assets will be able to trade ether (ETH) beginning Oct. 28, according to a memo sent out by the investment firm.

The move is the latest step towards making crypto available to institutional clients by Fidelity, the parent company of Fidelity Digital Assets. Earlier this month, the giant asset management firm said it started a new Ethereum Index Fund for accredited investors, after raising about $5 million since sales started on Sept. 26.

Fidelity launched its crypto-focused institutional custody and trading platform Fidelity Digital Assets in 2018. The firm currently offers two exchange-traded crypto funds dedicated to the metaverse and digital payments, respectively.

Fidelity's clients will be able to buy, sell, and transfer ether, according to the memo. The contents of the memo were confirmed to CoinDesk by a Fidelity spokesperson.

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