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$4.5T asset manager Fidelity offers ETH custody and trading to clients

diffrint by diffrint
October 22, 2022
in Ethereum
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$4.5T asset manager Fidelity offers ETH custody and trading to clients

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Constancy Digital Belongings, the crypto wing of $4.5 trillion asset supervisor Constancy Investments, is about to supply Ether (ETH) custody and buying and selling providers to its institutional shoppers later this month. 

In keeping with an electronic mail to Constancy’s clients shared on Twitter, the crypto arm introduced new “Institutional Ethereum capabilities” for institutional buyers beginning on Oct. 28, 2022.

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The put up states that buyers will have the ability to purchase, promote and switch ETH, “utilizing the identical mannequin offered for bitcoin investments at the moment.”

“With the Ethereum Merge accomplished, many buyers are taking a look at Ethereum via a brand new lens,” mentioned Constancy, seemingly referring to Ethereum’s shift to the environmentally-friendly proof-of-stake (PoS) mannequin.

Constancy has been an extended supporter of cryptocurrencies akin to Bitcoin (BTC), outlining in a previous paper their perception that it’s a superior form of money reasonably than simply tech.

This newest announcement comes within the wake of a brand new Ethereum Index Fund, which has raised over $5 million because the first sale on Sept. 26 via a sole investor, according to an Oct. 4 submitting.

Associated: Fidelity will ‘shift’ retail customers into crypto soon — Galaxy CEO

In April, Constancy introduced plans to permit 401(okay) retirement saving account holders to immediately spend money on Bitcoin.

Whereas final 12 months, the corporate introduced that 90% of its largest shoppers have been interested in accessing Bitcoin and different cryptocurrencies.

On Sept. 13, Galaxy Digital CEO Mike Novogratz mentioned that Constancy was reportedly working toward providing Bitcoin to its 34.4 million retail investor base.

Cointelegraph reached out to Constancy concerning the brand new service however has not obtained an instantaneous response on the time of publication.