Fidelity will soon offer investment products related to Ethereum. This was announced by Christine Sandler, head of sales and marketing at Fidelity Digital Assets during the Unchained podcast.
During the long chat with Laura Shin there was an opportunity to talk about Fidelity’s crypto choices and future developments.
Fidelity wants to expand to Ethereum
During a specific question on the possibility that Fidelity could offer Ethereum in the future, Christine Sandler answered:
It is clearly on the roadmap, Laura. I would be remiss if I could indicate a date, but it is definitely on the roadmap.
It is unavoidable in this regard to talk about the upcoming launch of Ethereum 2.0 and how this could become an opportunity for investors. For Christine Sandler, companies like Fidelity will inevitably have to offer staking services:
I think that in order to be a repository of digital assets and offer proof-of-stake assets, it is imperative to offer staking services. This puts you at a disadvantage, so I would expect us to develop such services once we can support Ethereum. To be honest, most of what we hear is bitcoin. Occasionally, we hear about investors trying to access Ethereum, but most of what we still hear is bitcoin. Therefore, the predominant institutional narrative is around bitcoin.
However, he admits, there is still a lot of difficulty in getting institutional investors to understand the power of digital assets.
The interview also focused on two innovations in the crypto industry, one launched and booming, the other struggling to take off: DeFi and ETF on Bitcoin.
Speaking of DeFi, Christine Sandler thinks it’s simply fantastic, while admitting it requires even more transparency and resilience. But, she comments:
The same enthusiasm is shown for ETFs on Bitcoin. The question starts at the end of Jay Clayton’s term of office at the SEC, and then evolves on the possibility that these products on Bitcoin will finally be approved. Sandler answers:
„The opportunity to have a bitcoin ETF would be fantastic. While we are still talking about an emerging industry and ecosystem, I think a bitcoin ETF would be received with great praise. Just look at recent inflows into Grayscale. Grayscale is probably the only product that is immediately accessible. If you wake up one morning and say, „I need to have an exposure to bitcoin,“ you can access it immediately through the Grayscale Bitcoin Trust.
According to the head of sales and marketing at Fidelity Digital Assets, issuing ETFs on Bitcoin would expand the market for Grayscale’s competitors, but the industry must also be prepared to take risks.
A final question has been reserved for CBDCs. For Christine Sandler, the digital currencies of the central banks will arrive in two years‘ time and will coexist with fiat currencies.
Ultimately, Fidelity will find itself ready to change, and possibly to ride them. Who knows that the first step could be precisely the development of investment products linked to Ethereum 2.0