Fidelity Reveals Analytics Solution for Crypto Market
Main page News, Crypto Market

Fidelity Investments has rolled out a new analytics cryptocurrency service dubbed Sherlock, which is focused on institutional investors. With the new service, Fidelity's clients could navigate through the cryptocurrency market.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

"Sherlock offers streamlined access to fundamental and technical data about development ecosystems, network activity [...] as well as unique analytics to help investors evaluate the market," a press release says.

According to Fidelity, the service monitors market data and social media to provide "insights into sentiment" around cryptocurrencies. Earlier in March, Fidelity filed an application to launch an exchange-traded fund (ETF) based on bitcoin (EXANTE: Bitcoin). If approved, Fidelity plans to use its own index to determine the price of bitcoin.

Silvergate Bank Taps Fidelity Digital Assets as Custody Provider

However, the US Securities and Exchange Commission (SEC) seems to be in no rush to approve any bitcoin-ETF as it recently delayed its decision on VanEck's ETF application for bitcoin until June. While, in general, it takes 45 days for the SEC to give a decision on whether to approve or disapprove en ETF, the watchdog can extend its review deadline up to 240 days.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Please describe the error