2021-4-30 12:45 |
Fidelity Investments has launched a digital asset analytical tool designed for institutional investors in the cryptocurrency market
Financial services firm Fidelity Investments announced yesterday that it had launched SherlockSM, a digital asset data and analytics tool. The analytics tool is designed to serve institutional investors in the cryptocurrency space.
Thanks to SherlockSM, institutional investors can see data from the blockchain, development ecosystems, markets, and social media. They can leverage this information to model and back-test their strategies on the platform.
Kevin Vora, Vice President at the Fidelity Center for Applied Technology (FCAT), stated that the growth in the cryptocurrency space over the past few years has been exceptional. The company rolled out this tool due to increasing demand from institutional investors. “That’s what we’re introducing with Sherlock – robust and insightful datasets paired with highly intuitive tools to help clients make data-driven digital asset investment decisions,” Vora said.
With the tool’s intuitive user experience and features, institutional investors can carry out in-depth cryptocurrency analysis, discover insights, and monitor crucial market developments to help them make informed decisions.
Kinjal Shah, Senior Associate at Blockchain Capital LLC, pointed out that the analytical tool will solve many problems for investors. He stated that “A major challenge when researching the crypto markets today is piecing together information from a myriad of resources. Sherlock helps us research more efficiently by giving us access to holistic, timely data, which is crucial in this fast-paced market.”
Fidelity is no stranger to the cryptocurrency space. According to the company’s 2019 survey, nearly 50% of questioned institutional investors said they were interested in including digital assets in their portfolios. This prompted Fidelity Investments to start offering cryptocurrency services.
Fidelity Digital Assets is the crypto investment arm of the company. The company is also involved in trying to launch a Bitcoin exchange-traded fund (ETF) in the United States. FD Funds Management, a subsidiary of Fidelity Investments, wants to provide financial backing for the Wise Origin Bitcoin ETF.
The post Fidelity rolls out digital asset analytics tool SherlockSM appeared first on Coin Journal.
Similar to Notcoin - Blum - Airdrops In 2024