Fidelity to Offer ETH Trading to Clients By Investing.com


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Investing.com – Fidelity Digital Assets, a subsidiary of Fidelity Investments, will begin offering institutional investors the ability to trade and hold before the end of the month, according to an email sent to clients.

According to Fidelity, blockchain’s shift from energy-intensive proof-of-work to more efficient proof-of-stake has resulted in a positive shift in investors’ view of Ether.

Previously, Fidelity had already launched an Ethereum-based index fund, which can be traded since September 26. In addition, efforts are being made to establish a retirement savings plan linked to .

The wealth manager is thus continuing its long-standing strategy, which is based on the fact that cryptocurrencies are much more than just technology. From a societal perspective, it is a type of money that is better than fiat money issued by central banks.

Last month, a rumor circulated that Fidelity wanted to make bitcoin available to its nearly 35 million private customers. No official statement has been made on this yet.

Ethereum: Technical benchmarks

Ethereum is currently losing -0.59% with an ETH/USD price of $1292, while the weekly gain is 7.04%.

The resistance of the 23.6% Fibo retracement at $1335 was tested on Monday and Tuesday. The bulls failed to reach a daily close above this level and the price retreated from this level again. The door therefore remains open for a test of the low of October 13 at 1196 dollars.

Ethereum (ETH/USD - Daily Chart

Only if one manages to overcome the resistance sustainably does the chance of a rally towards the 38.2 percent Fibo retracement of $1421 increase.

By Marco Oehrl

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