At long last, it seems that the long-awaited institutional herd is finally arriving on the crypto industry’s doorsteps. Case in point, a Wall Street powerhouse has launched its Bitcoin-focused division amid institutional clamoring for cryptocurrencies and related innovations. But there’s still a ways to go in this subsector.<\/p>\n
As we reported<\/a> in NewsBTC’s most recent “Crypto Tidbits” segment, Fidelity Investments, a Boston-headquartered finance giant, has soft-launched the Digital Asset Services (FDAS) branch to a small audience.<\/p>\n In a number of interviews with cryptocurrency outlets this week, Tom Jessop, a former Goldman Sachs executive turned head of FDAS, explained that his brainchild\u2019s offerings are live for a select list of \u201celigible clients.\u201d He adds that at the moment, the platform, centered around custodial services and trade execution, only supports Bitcoin, and will be staving off its verdict on Ethereum due to impending blockchain upgrades.<\/p>\n Regardless, many have still seen this as a monumental step in the right direction when it comes to institutional players in the cryptocurrency realm. The Crypto Dog, Dan Held, Alec Ziupsnys, among other industry commentators have expressed that the establishment of FDAS is one of the primary reasons why they’re more bullish on Bitcoin than ever before.<\/p>\n We are live with a select group of eligible clients and will continue rolling out slowly. Our solutions are focused on the needs of hedge funds, family offices, pensions, endowments, other institutional investors. More on our project: https:\/\/t.co\/EkJ2pWJt2Y<\/a> #DCBlockchain<\/a><\/p>\n — Fidelity Digital Assets (@DigitalAssets) March 7, 2019<\/a><\/p><\/blockquote>\nRelated Reading: London Stock Exchange Invests $20 Million in Crypto Bond, Rapid Institutional Adoption<\/a><\/h6>\n
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