Fidelity unveils digital asset analytics tool for institutional investors

On Thursday, financial services firm Fidelity Investments announced SherlockSM, a digital asset data and analytics tool geared toward institutional investors.

Users can see data from blockchain, development ecosystem, market, and social media, then use this information for modeling and back-testing purposes off the platform. 

“We’ve heard from institutional investors that there’s still a need for a comprehensive and accessible data solution,” said Kevin Vora, Vice President of Product Management at the Fidelity Center for Applied Technology. “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.”

In 2019, a Fidelity survey found that nearly half of questioned institutional investors were interested in including digital assets in their portfolios. The company began offering bitcoin custody services to its clients that same year.

With that “incredibly successful” custody business, according to the firm’s CEO Abigail Johnson, the new tool could provide another way to service its bitcoin-enthusiastic institutional clients.