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ICO investment: Fidelity Investments to start institutional cryptocurrency trading soon?

ICO investment

The Boston-based Fidelity Investments, among the largest asset managers in the world, made headlines recently. The company will start offering cryptocurrency trading to its institutional customers, according to a Bloomberg report.

But this is not the company’s first venture into the Blockchain space. According to InWara’s Venture Funding database, Fidelity Investments had invested in three startups in the blockchain-crypto space including pioneering platforms such as Everledger.

Back in October 2018, Fidelity Digital Assets was willed into existence with the aim of catering to Wall street’s growing appetite for trading Digital assets. Notably, at the time when Fidelity Investments entered into crypto space digital assets like Bitcoin and other altcoins were at record lows after the crypto bubble burst. In addition to allowing trading of cryptocurrencies, Fidelity Digital Assets also plans on offering over-the-counter (OTC) trade execution and order routing as well.


Fidelity’s investment portfolio

ICO investment


Fidelity Investments has previously invested in dozens of startups but only three of them are in the blockchain-crypto space. 

The company was the lead investors in two of the three funding rounds, namely in ErisX and Coin Metrics. 

ErisX-is a platform that offers both spot and futures contract one platform. In addition to this, ErisX solution provides trading, deposits and withdrawals on a unique market technology infrastructure. According to InWara’s Venture Funding database, Fidelity Investments along with other VC firms invested a whopping $27 million in ErisX back in 2018.

Coin Metrics- is in essence, a provider for the decentralized economy. The company claims to publish hard-to-acquire data about major blockchains, and according to InWara’s Venture Funding database Fidelity Investments along with other VC firms like Dragonfly Capital partners, Highland Capital Partners have invested a cool $1.9 million in Coin metrics.

Everledger- is an emerging global tech enterprise that focuses its resources and attention on real-world challenges and provides solutions to them by creating ecosystems of trust. The company uses cutting edge technology such as Blockchain and machine vision to achieve this. Although not the lead investor, Fidelity Investments has taken part in a Series A funding round valued at $10.4 million.

It can be observed that Fidelity Investments has consistently backed Blockchain startups but is that a good investment strategy?


Venture Funding by industry: April 2019

ICO investment


Venture funding in the blockchain-crypto space has totalled to a whopping $341 million during the month of April alone. But only 17% of the total amount was invested in specifically Blockchain industry sector startups, amounting to a total of ~$51 million globally.

As more traditional institutions enter the crypto space it is bound to spark interest in professional investors in crypto assets and blockchain which will in turn drive mass adoption.

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