The asset management firm Fidelity Investments is diving deeper into the world of digital assets with the announcement of a crypto analytics platform Sherlock. The platform is expected to be providing fundamental as well as technical analysis for investors and fund managers.
Fidelity Launches Crypto Analytics Platform Sherlock
Fidelity Investments, an asset management company with over $10 million assets under management, made an announcement on April 29 unveiling a crypto data and analytics solution.
The introduction of Sherlock was to extend assistance to the institutional investors and the fund managers.
As reported, the platform launched by Fidelity is expected to be operating the same way as Terminal by Bloomberg and will be collating data on technical and fundamental analysis, market data, blockchain data, industry news, and even social sentiment analysis into one single portal.
In addition to this, the platform will include research on various crypto assets from some leading institutional data aggregators along with distinct analytics to assist the investors to evaluate the market.
Competition With the Existing Companies in the Space
Moreover, the new platform will be competing against the existing solutions from firms such as Messari, which was introduced in the year 2018 in order to provide institutional-grade analytics.
The vice president of product management at The Fidelity Center for Applied Technology, Kevin Vora, acknowledged the increased interest of institutional investors in the crypto space and said:
“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.”
Kinjal Shah, the senior associate at Blockchain Capital, commented a major challenge while doing research on the crypto market is gathering together the information from various resources, and added:
“Sherlock helps us research more efficiently by giving us access to holistic, timely data, which is crucial in this fast-paced market.”