Asset management giant Fidelity has penetrated deeper into the digital asset space with the announcement of its analytics platform called Sherlock.
In a statement released Thursday, Fidelity Investments, which manages $ 10 trillion in assets, revealed data analysis and a digital real estate analytics solution to help institutional investors and fund managers.
The platform, called Sherlock, will be similar to a Bloomberg terminal and will combine fundamental and technical analysis data, blockchain data, market data, general sentiment analysis and industry news in one portal.
According to the announcement, it will include searching for cryptocurrencies from some of the major institutional data providers, as well as unique analysis to help investors assess the market.
The new platform will compete with existing solutions from companies like Messari, which was launched in 2018 for enterprise analysis. Research firm Delphi Digital, which announced its partnership with gaming venture capital firm Bitkraft on Thursday, is another provider of in-depth research and analysis for institutional clients.
Other platforms that offer a deeper layer of data and analytics include Glassnode, Skew, Coin Metrics, Dune Analytics, and Santiment.
Kevin Faure, Vice President of Product Management at Fidelity Center for Applied Technology, acknowledged the growing institutional interest in cryptography:
“It has been a pleasure to see the explosive growth in digital space computing in recent years, and with the market developing rapidly, we have heard from institutional investors that there is still a need for a comprehensive and affordable computing solution.”
In addition to an expanded suite of institutional investor analysis tools, Sherlock will also allow users to explore data outside of the modeling and testing platform.
Kinjal Shah, Senior Fellow at Blockchain Capital, commented that one of the biggest challenges in researching the cryptocurrency markets is gathering information from many resources, adding that “Sherlock is helping us conduct research more efficiently by giving us access to current, coherent data, which is important. . The value in this rapidly changing market. ”
The Fidelity Applied Technology Center also has a blockchain incubator team that conducts research and collects evidence based on the concept of specific use cases for distributed ledger technology.
Fidelity benefits from the existence of the cryptocurrency that began in 2014 with Bitcoin (BTC) mining. On March 24, the investment giant applied for a registered Bitcoin Fund with the goal of being the first to offer such a product in the United States.
On April 8, Tom Jessup, head of cryptocurrencies at Fidelity, said, in his opinion, that the situation in the cryptocurrency industry had reached a critical level.