Fidelity Investments, a major asset manager, has now teamed up with crypto service provider ErisX. The aim is to enable optimized Bitcoin trading as a supplement to crypto-custody. The subsidiary Fidelity Digital Assets plays an important role in the cooperation.
Fidelity invests in ErisX
With client assets under management of 8 trillion US dollars, ErisX can be pleased to have a financially strong cooperation partner. Traders should also welcome the entry of such investors into the crypto sector, as the positive consequence could be an increased trading volume.
In a press release on April 9th, Thomas Chippas, CEO of ErisX, explains
„We believe in the crypto ethos of accessibility for all at equal terms and in ensuring a competitive environment for all. Our proven central limit order book ensures that everyone gets the best price in the market. We are pleased that Fidelity Digital Assets supports our transparent market model“.
Institutional investors‘ demand for Bitcoin is increasing
Terrence Dempsey, Product Manager for Fidelity Digital Assets explains in the press release
„We are pleased to deepen our strategic relationship with ErisX and to offer our clients greater liquidity in digital asset trading. We believe that ErisX’s central limit order book trading model is critical to the growth of the crypto markets. Combined with its technical capabilities, accessible order sizes and a solid legal framework, ErisX is an attractive solution for secure access to digital assets“.
Fidelity Digital Assets brings a number of proven institutional investors into the partnership. These institutional investors in particular would like to have better access to Bitcoin liquidity.