In the altcoin department, the year 2019 has not offered much relief compared to previous years. One positive note for Ethereum comes in the form of what Fidelity Digital Assets has planned in 2020.
Fidelity Digital Assets provides custodial services for select cryptocurrencies.
The Future of Fidelity Digital Assets
The platform has been in operation since early 2019 and focuses on Bitcoin primarily.
There is also a trading functionality for institutional traders and investors.
To keep the momentum going, the firm needs to keep innovating and growing.
It would appear Fidelity Digital Assets is looking to support Ethereum as of 2020.
A lot of work on integrating this asset has been done behind the scenes.
It is now up to finding sufficient client demand to make it happen.
Institutional investors have shown a keen favoritism toward Bitcoin.
That is only normal, as the world’s leading cryptocurrency has the longest and best track record of all digital assets in this industry.
Convincing these investors to diversify their holdings may prove to be a steep hurdle.
Investors are primarily concerned about the longevity of alternative cryptocurrencies.
A lot of these projects do not seem capable of sticking around for the next few years to come.
There are some exceptions, such as Ethereum, but even that project has been criticized on several occasions.
For now, it remains to be seen what Fidelity Digital Assets plans to do exactly.