Fidelity Digital to Increase Headcount as Demand for Crypto Remains Strong
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Fidelity Digital Assets, a cryptocurrency-focused arm of of Fidelity Investments, plans to increase staff by ~70% as demand for cryptocurrency services from institutionals remains strong, Bloomberg reports. The Boston-based asset manager wants to hire approximately 100 workers in Dublin, Boston and Salt Lake City.

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Fidelity Digital Assets President, Tom Jessop, says the employees will help the arm to develop products and go beyond bitcoin (EXANTE: Bitcoin).

"[Last year] was a real breakthrough year for the space, given the interest in bitcoin that accelerated when the pandemic started," Jessop added.

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Particularly, Fidelity wants to expand services in the Ethereum ecosystem as it sees more interest in the cryptocurrency. The cryptocurrency subsidiary also plans to offer 24/7 trading desk.

The move comes after Fidelity raised $102 million for its bitcoin fund since its launch in August 2020. According to a report released by the US Securities and Exchange Commission (SEC), 83 investors joined the fund since its launch.

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