Fidelity launched its digital assets arm 2019 and now it's seeking to provide more tools for investors. In a press release, the financial services giant said it would be introducing a new analytics solution for institutional investors.
The platform, called Sherlock, offers "streamlined access to fundamental and technical data about development ecosystems, network activity, trading, social media activity, news and other research on digital assets from some of the leading institutional data providers, as well as unique analytics to help investors evaluate the market," according to the press release.
Fidelity's vice president of product management for the Fidelity Center for Applied Technology (FCAT), Kevin Vora, said its clients are seeking solutions for more comprehensive market data.
“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," said Vora.
That’s what we’re introducing with Sherlock – robust and insightful datasets paired with highly intuitive tools to help clients make data-driven digital asset investment decisions.”
Sherlock aims to provide data from blockchains like network activity, market data with in-depth order books and derivatives statistics, social media sentiment and much more.
Fidelity's motivation for making such a tool for its investors is due to the need for a variety of resources to piece together market data, rather than a single platform that has it all.
“A major challenge when researching the crypto markets today is piecing together information from a myriad of resources,” said Kinjal Shah, senior associate, Blockchain Capital LLC. “Sherlock helps us research more efficiently by giving us access to holistic, timely data, which is crucial in this fast-paced market.”
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