Fidelity Launches Crypto Analytics Platform For Institutional Investors

Fidelity Investments has announced the launch of a new digital asset data and analytics solution targeted at institutional investors.

What Happened: Fidelity’s new tool will offer investors streamlined access to fundamental and technical data about development ecosystems, network activity, trading, social media activity, news, and other research on digital assets, along with analytics to evaluate the market.

The all-encompassing tool is similar to the Bloomberg terminal, except the focus will be exclusively on digital assets.

“It’s been exciting to see the tremendous growth in the digital assets data space over the past few years, and while the market is maturing rapidly, we’ve heard from institutional investors that there’s still a need for a comprehensive and accessible data solution,” said Kevin Vora, vice president of Product Management at Fidelity Center for Applied Technology (FCAT).

Why It Matters: Unlike traditional financial markets, cryptocurrency markets operate 24/7, and information evolves at an extremely fast pace.

“A major challenge when researching the crypto markets today is piecing together information from a myriad of resources,” said Kinjal Shah, senior associate, Blockchain Capital LLC.

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Sherlock, which was developed by the Fidelity Center for Applied Technology or FCAT, is designed to help investors and traders research navigate the market more efficiently.

There are already a number of crypto analytics firms like Glassnode, Messari, Santiment, Coin Metrics, and Skew that provide investors with a variety of data about the state of blockchain networks and the crypto market.

Fidelity’s Sherlock will likely compete with these existing platforms in the process of establishing itself in the market.