Fidelity is delving deeper into the digital asset space with the announcement of an analytics platform called Sherlock
In an announcement on April 29, Fidelity Investments – which has $ 10 trillion in assets under management – revealed that the company is digging deeper into the digital asset space with the announcement of an analytical platform called Sherlock.
The Twitter account specializing in providing information about the company FidelityNews also announced this news not too long ago:
Breaking News: Fidelity Investments Introduces New Digital Assets Analytics Solution for Institutional Investors https://t.co/BSwJK3OKWG @FCATalyst pic.twitter.com/z2J3IolIF3
— FidelityNews (@FidelityNews) April 29, 2021
Fidelity is delving deeper into the digital asset space with the announcement of an analytics platform called Sherlock
It is known that this is a digital asset data and analysis solution to support institutional investors and fund managers. Sherlock platform, which will be similar to Bloomberg’s Terminal and will collate data on fundamental and technical analysis, blockchain data, market data, psychosocial analysis, and industry news into one portal.
Sherlock will include research on crypto assets from some of the leading institutional data providers, in addition to unique analytics to help investors evaluate the market, according to the announcement.
The new platform will compete with existing solutions from companies like Messari, launched in 2018 to provide organizational-level analytics. Research firm Delphi Digital, which announced a partnership with gaming venture company Bitkraft on Thursday, is another in-depth research and analysis provider for institutional clients. Other platforms that offer deeper levels of data and analysis include Glassnode, Skew, Coin Metrics, Dune Analytics, and Santiment.
Kevin Vora, vice president of product management at the Fidelity Center for Applied Technologies, acknowledged the growing interest of organizations in the crypto space:
“It’s been exciting to see the tremendous growth in the digital assets data space over the past few years, and while the market is maturing rapidly, we’ve heard from institutional investors that there’s still a need for a comprehensive and accessible data solution.”
In addition to the advanced analytical toolset for institutional investors, Sherlock will also allow users to explore off-platform data for modeling and re-testing.
One of the major challenges when researching the cryptocurrency market is to bring together information from multiple resources. In particular, Sherlock is expected to help researchers become more efficient by giving people access to timely, comprehensive data in this fast-paced market.
Fidelity’s Center for Applied Technology (FCAT) also has a blockchain incubator team that does research and builds proof of concepts around specific use cases for distributed ledger technology.
Fidelity is strengthening its crypto-asset presence, starting in 2014 with BTC mining. On March 24, the investment giant submitted a Bitcoin ETF intended to be the first to offer such a product in the US. On April 8, Tom Jessop, the head of Fidelity’s crypto division, stated that he believes everything has reached its zenith for the crypto asset industry.
Read more:
- Binance Coin Looks Fundamentally Strong To Resume Its Uptrend And Target New All-Time Highs
- Fed Chairman Jerome Powell Commented On The Surging Rise In Value For Assets Like DOGE And GameStop Stock