Fidelity is entering crypto analysis with a new product. The new product will assist Fidelity investors in fundamental and technical analysis of the crypto market. Fidelity Investment launches Sherlock, a new cryptocurrency analytics platform for institutional investors.
Fidelity enters cryptocurrency analysis with new product
Sherlock was created to help institutional clients make informed investment decisions in crypto assets, based on marketing materials. The platform gathers essential and technical data from a variety of sources, including “development ecosystems, network activity, commerce, social media activity, news and other research” in a single portal.
In addition to the ready-made analysis tools, the platform will also allow users to download data from cryptocurrencies for modeling and backtesting. The platform was developed by the Fidelity Center for Applied Technology (FCAT), a technology research division affiliated to the company. Adam Schouela, head of developing technology at FCAT, made the following statement on the subject:
Sherlock helps institutional investors research digital assets more efficiently, and we continue to experiment with it and discover how technology can help simplify other aspects of investing in this space.
As companies add Bitcoin to their portfolios, corporate interest in cryptocurrencies is increasing rapidly.
It will compete with existing crypto analytics platforms such as Sherlock, Messari, Delphi Digital, Skew, Santiment, and Glassnode. As billion dollar asset managers, firms and companies add Bitcoin to their portfolios, institutional interest in cryptocurrencies is rapidly increasing. Fidelity is also entering the market with a variety of Bitcoin-related investment products and services in areas such as trading, custody, and lending.