Fidelity launches Fidelity Digital Assets for institutional crypto custody and trade execution

On October 15, 2018, Fidelity Investments spun up Fidelity Digital Asset Services, offering enterprise-grade custody and trade execution for institutional clients like hedge funds, family offices, and market intermediaries. Coming from a multi-trillion-dollar asset manager in the depths of a bear market, it was a notable signal that Wall Street infrastructure was being built for an asset class most of Wall Street still publicly disdained.