Fidelity Investments, one of the largest asset managers in the world, is set to develop a new analysis platform for cryptocurrencies such as bitcoin (BTC). The American financial services company announced this in a press release, published on April 29.
The new platform, dubbed Sherlock, will aim to help institutional investors in this emerging market. Sherlock collects both fundamental and technical data from blockchain data, network activity, trading activity, market data, social media data, news and other research.
“It has been exciting to see the tremendous growth in the digital assets industry in recent years, and while the market is rapidly maturing, we have heard from institutional investors that there is still a need for a comprehensive and accessible data solution.
That’s what we’re introducing with Sherlock: robust and insightful data sets combined with highly intuitive tools to help customers make data-driven investment decisions in digital assets. ”
Says Kevin Vora from Fidelity. Sherlock will compete with analysis companies such as Glassnode, Messari, Coin Metrics, Skew, Santiment and Dune Analytics. Fidelity, which manages some $ 5 trillion in assets, filed for a bitcoin ETF with the SEC earlier this year. Fidelity CEO Abigail Johnson, one of the richest women on the planet, said late last year that Fidelity’s bitcoin storage service is “incredibly successful”.