Allegiance to offer ETH trading to customers of

© Reuters – Fidelity Digital Assets, a subsidiary of Fidelity Investments, will begin offering institutional investors the option to trade and hold by the end of the month, according to an email sent to clients.

According to Fidelity, blockchain’s shift from energy-intensive proof-of-work to more efficient proof-of-stake has resulted in a positive shift in investors’ view of Ether.

Previously, Fidelity had already launched an Ethereum-based index fund, which can be traded since September 26. In addition, work is being done to establish an old-age savings linked to .

The asset manager is thus continuing its long-standing strategy, which is based on the fact that cryptocurrencies are much more than just technology. From society’s perspective, it is a type of money that is better than fiat money issued by central banks.

Last month, a rumor circulated that Fidelity wanted to make bitcoin available to its nearly 35 million retail customers. No official statement has yet been given on this.

Ethereum: Technical Benchmarks

Ethereum is currently losing -0.59% with an ETH/USD price of $1292, while the weekly gain is 7.04%.

The resistance of the 23.6% Fibo retracement at $1335 was tested on Monday and Tuesday. The bulls failed to reach a daily close above this level and the price pulled back from this level again. The door therefore remains open for a test of the October 13 low of $1196.

Ethereum (ETH/USD - Daily chart

Only if one manages to sustainably overcome the resistance, the chance of a rally towards the 38.2 percent Fibo retracement of $1421 increases.

By Marco Oehrl

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