Fidelity Investments: A new Ethereum (ETH)-focused fund in sight?

Fidelity is one of the largest investment companies with the fastest adoption of cryptos. Last October, he announced plans to hire 100 people to grow his crypto team to 500 members. The following month, the company launched several projects in the sector. Now she wants to take the next step.

Fidelity wants to offer its services in virtual worlds

Fidelity launched commission-free crypto trading accounts 1 month ago. Now the investment company is jumping into the metaverse. Indeed, according to a tweet from The Block: “ Fidelity Files Metaverse Marks in Latest Crypto Investment “. So, for its latest initiative in the crypto space, the investment company has chosen to venture into virtual worlds.

Fidelity filed precisely three applications to register metaverse trademarks in the USA. Through this initiative, he wants to provide his traditional services in different virtual worlds. In particular, the company wants to offer real estate investment services in the metaverse. The applications filed also relate to NFTs, NFT marketplaces and crypto trading.

The information was reported by The Block

The investment company criticized for certain decisions

Some time ago, Fidelity announced a 401(k) retirement plan system with bitcoin (BTC). Several US senators have criticized this project, highlighting the risks associated with the crypto sector. Senators Richard J. Durbin, Tina Smith and Elisabeth Warren sent a letter to the company asking it to reconsider its decision.

It should be noted that Republican Senator Tommy Tuberville introduced a similar bill in May 2022. The bill was about financial freedom. It allowed Americans to add cryptos to their 401(k) retirement savings plan.

The fall of the FTX exchange reinforces the concerns of the most pessimistic about the crypto industry. However, companies and institutions are launching more and more projects in the sector. For example, recently the Tamil Nadu Police launched an initiative based on blockchain technology and Web3. The project provides informants with a system to provide information to the police in complete anonymity. It aims to make it easier for the Indian police to deal with complaints. It should also make it possible to further integrate Web3 into the daily life of the population in India.

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