Fidelity Investments has launched a digital asset analysis tool for institutional investors in the cryptocurrency market
Financial services company Fidelity Investments announced yesterday that it has launched SherlockSM, a tool for data and analysis of digital assets. The analysis tool was developed to help institutional investors in the field of cryptocurrency.
Thanks to SherlockSM, institutional investors can view data from the blockchain, development ecosystems, markets and social media. You can use this information to model and test your strategies on the platform.
Kevin Vora, vice president at the Fidelity Center for Applied Technology (FCAT), stated that the growth in the cryptocurrency space has been exceptional in recent years. The company introduced this tool due to the increasing demand from institutional investors. “That’s what we’re introducing with Sherlock – robust and insightful data sets paired with extremely intuitive tools that customers can use to make data-driven investment decisions for digital assets.” Said Vora.
With the tool’s intuitive user experience and capabilities, institutional investors can perform in-depth cryptocurrency research, gain insights, and monitor key market developments in order to make informed decisions.
Kinjal Shah, Senior Associate at Blockchain Capital LLC, pointed out that the analytics tool will solve many problems for investors. He said that “A major challenge in researching crypto markets today is to assemble information from a variety of resources. Sherlock helps us research more efficiently by giving us access to holistic, timely data, which is vital in this fast-moving market. “
Fidelity is no stranger to the cryptocurrency space. According to the company’s 2019 survey, nearly 50% of institutional investors surveyed said they were interested in adding digital assets to their portfolios. This prompted Fidelity Investments to offer cryptocurrency services.
Fidelity Digital Assets is the company’s crypto investment arm. The company is also involved in an attempt to launch an exchange-traded bitcoin fund (ETF) in the United States. FD Funds Management, a subsidiary of Fidelity Investments, would like to support the Wise Origin Bitcoin ETF financially.