A subsidiary of one of the world’s largest investment funds, Fidelity, is “immersed” in the crypto sphere.
Fidelity Digital Assets, one of the world’s largest investment funds ($ 10.4 trillion in assets under management), a subsidiary of Fidelity, is reportedly looking to increase its staff by 70 % by hiring an additional 100 employees at its Dublin, Boston and Salt Lake City divisions.
Tom Jessop, president of Fidelity Digital Assets, said there is a need for more staff to develop and provide digital device services. As a reminder, Fidelity Digital Assets currently provides bitcoin-related services, including storage services for such digital devices as well as trading. The company has praised the effectiveness of its work on bitcoin services.
At the same time, Jessop noted, “we have a lot of interest in Ethereum altcoins and want to stay one step ahead of demand trends” in financial instruments. Jessop also stressed that Fidelity Digital Assets wants to significantly increase the number of hours the organization’s customers can trade digital devices, given that the market for such devices is open 24 hours a day, seven days a week.
Institutional investors’ interest in the cryptosphere is manifold. Thus, almost simultaneously with the information from Fidelity Digital Assets, it became known that Capital International Group acquired a 12.2% stake in MicroStrategy, known as one of the largest institutional bitcoin investors in the world. With roughly $560 million worth of MicroStrategy stock, Capital International Group became MicroStrategy’s second outside investor after the Black Rock mutual fund.