Fidelity Looking to Expand Digital Asset Trading Beyond Bitcoin and Ether

Fidelity Investments is looking to expand its institutional crypto asset platform to include trading services for the top five to seven cryptocurrencies by market capitalization.

Last month, the buy-side giant announced it would be launching a separate company, Fidelity Digital Asset Services, at the time stating that it would be offering custody and trading services for bitcoin and ether, the cryptocurrency that powers the ethereum blockchain.

“I think there is demand for the next four or five in rank of market cap order. So we will be looking at that,” said Tom Jessop, head of Fidelity Digital Assets during Block FS conference in New York.

Jessop explained that Fidelity is taking a customer-driven approach for now and that its 13,000-plus institutional clients are interested in bitcoin and ether because they make up a large part of the current market cap.