Fidelity, one of the largest asset managers in the world with $2.46 trillion in assets under management, has been allowing its clients to buy and sell bitcoin and ethereum since August of 2018.
However, it does not appear as though Fidelity clients are able to directly purchase ethereum with fiat currency, only with bitcoin.
This could be due to the fact that ethereum’s price is highly volatile and has been on a downward trend since early 2018. At the time of writing, ethereum is trading at $109, down from an all-time high of over $1,400 in January of 2018.
If you’re a Fidelity client and you want to purchase ethereum, you’ll first need to buy bitcoin and then exchange it for ethereum on a cryptocurrency exchange like Coinbase or Binance.
It’s also worth noting that Fidelity Investments CEO Abigail Johnson is a big fan of blockchain technology and has been exploring ways to use it within the company. In October of 2017, Johnson even revealed that Fidelity was mining bitcoin and ethereum.
So while you can’t directly purchase ethereum at Fidelity, it’s clear that the company is open to the idea of cryptocurrency and may offer more direct crypto-to-fiat pairs in the future. For now, if you’re a Fidelity client and you want to invest in Ethereum, you’ll need to do so indirectly.