Fidelity’s plan to corner the cryptocurrency market appears to be more ambitious than previously imagined, as the asset manager looks to provide more institutional pathways to digital assets.
In a recent interview with the Boston Globe, Christine Sandler, head of sales and marketing for Fidelity Digital Assets, said that institutional interest in crypto is growing. For most investors, the primary entry into crypto has been Bitcoin and, to a lesser extent, Ether.
Tom Jessop, who heads Fidelity Digital Assets, said the pandemic was a major motivator for investors to finally get into crypto:
“What really got people off the fence was the pandemic, because you’ve got this scarce asset class — there will only ever be 21 million bitcoin created — and an environment where our currency is being debased, and there’s a ton of money printing.”