The world of digital finance is evolving rapidly, and traditional financial giants are stepping up to meet the momentum. Fidelity Investments, a long-standing leader in asset management, is making a bold move to solidify its position in the cryptocurrency space. With institutional interest in digital assets surging, Fidelity Digital Assets has announced plans to expand its team by 70%, adding approximately 100 new professionals across key global offices in Salt Lake City, Boston, and Dublin.
This significant workforce increase underscores a broader shift in the financial industry: crypto is no longer a niche experiment—it’s becoming a core component of institutional portfolios.
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Institutional Demand Fuels Crypto Expansion
According to Tom Jessop, President of Fidelity Digital Assets, the past few years have marked a turning point in how institutions view and engage with cryptocurrency. Speaking with Bloomberg, Jessop highlighted that the surge in interest began accelerating during the pandemic and has only intensified since.
“Last year was a major breakthrough for the space, given the interest in Bitcoin that accelerated when the pandemic started,” Jessop said.
While Bitcoin remains the primary gateway for most institutions entering the crypto market, there's a noticeable shift toward broader exploration. Investors are no longer focusing solely on Bitcoin; they’re beginning to assess the wider ecosystem of digital assets, including Ethereum, stablecoins, and tokenized securities.
Jessop noted that newer clients tend to show more diversified interest across multiple blockchain-based assets, while longer-standing clients are gradually expanding beyond Bitcoin exposure. This evolving demand is shaping Fidelity’s strategic roadmap.
Expanding Beyond Bitcoin: A Multi-Asset Vision
Currently, Fidelity Digital Assets offers custody and trade execution services exclusively for Bitcoin. However, the company is actively preparing to broaden its offerings. With rising institutional curiosity in Ethereum (Ether) and other emerging digital assets, Fidelity aims to stay ahead of the curve.
“We've seen more interest in Ether, so we want to be ahead of that demand,” Jessop explained.
This proactive approach reflects a deeper understanding of market dynamics. As Ethereum continues to lead innovations in smart contracts, decentralized finance (DeFi), and non-fungible tokens (NFTs), institutional players are recognizing its long-term value proposition—not just as a speculative asset but as foundational infrastructure for next-generation financial systems.
Fidelity’s expansion isn’t limited to product offerings. The company also aims to enhance operational availability.
“We want to be at a place where it's full-time or most of the week,” Jessop said.
Unlike traditional markets constrained by trading hours and weekends, cryptocurrency operates 24/7. To serve clients effectively, Fidelity is working toward near-continuous trading and support capabilities—an essential step for true integration into global financial workflows.
Why This Move Matters for the Crypto Ecosystem
Fidelity’s commitment sends a powerful signal: digital assets are here to stay. When a trusted name like Fidelity invests heavily in crypto infrastructure, it boosts credibility, encourages regulatory clarity, and paves the way for wider adoption.
Moreover, hiring 100 skilled professionals into crypto-focused roles indicates confidence in long-term growth. These roles span engineering, compliance, client services, and security—critical areas for building robust, scalable platforms capable of handling institutional-grade transactions.
The geographic distribution of new hires—across the U.S. and Europe—also highlights the global nature of this transformation. Salt Lake City has become a tech talent hub, Boston offers proximity to academic and financial institutions, and Dublin provides strategic access to EU markets and fintech innovation.
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Core Trends Shaping Institutional Crypto Adoption
Several key factors are driving institutions toward digital assets:
- Portfolio Diversification: With low correlation to traditional markets, crypto offers unique hedging opportunities.
- Inflation Hedge: Many investors view Bitcoin as “digital gold,” a store of value amid economic uncertainty.
- Technological Innovation: Blockchain technology enables faster settlement, greater transparency, and programmable finance.
- Client Demand: Asset managers are responding to growing requests from high-net-worth individuals and pension funds.
These trends align perfectly with Fidelity’s strategy. By expanding its team and service scope now, the firm positions itself as a first-mover among traditional financial institutions embracing the decentralized future.
Frequently Asked Questions (FAQ)
Q: What services does Fidelity Digital Assets currently offer?
A: Fidelity Digital Assets currently provides institutional-grade custody and trade execution services for Bitcoin. Expansion into other digital assets like Ethereum is under active consideration.
Q: Why is Fidelity increasing its digital assets staff by 70%?
A: Rising institutional demand for crypto products has created the need for enhanced infrastructure, customer support, security, and product development—requiring significant human capital investment.
Q: Is Fidelity planning to support Ethereum trading?
A: While not yet officially launched, Fidelity has acknowledged growing client interest in Ether and expressed intent to prepare services ahead of anticipated demand.
Q: Where are the new Fidelity Digital Assets jobs located?
A: New positions are being added in Salt Lake City (USA), Boston (USA), and Dublin (Ireland), reflecting a global talent and market strategy.
Q: Does Fidelity offer crypto services to retail investors?
A: Currently, Fidelity Digital Assets focuses on institutional clients. However, Fidelity Investments offers limited crypto exposure through retirement accounts and brokerage platforms for individual investors.
Q: How does 24/7 crypto trading impact institutional adoption?
A: Continuous market operation requires firms to provide round-the-clock monitoring, risk management, and execution tools—capabilities Fidelity is actively developing.
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The Road Ahead for Traditional Finance and Crypto
Fidelity’s expansion is more than a corporate hiring spree—it’s a milestone in the convergence of traditional finance and blockchain technology. As more institutions follow suit, we can expect:
- Wider availability of regulated crypto investment products
- Improved security standards and audit frameworks
- Greater integration with existing banking and asset management systems
- Stronger regulatory cooperation and clarity
For investors—both institutional and retail—this means increased access, better protection, and more sophisticated tools for engaging with digital assets.
Fidelity’s bold move reinforces a simple truth: the future of finance is digital. And with major players investing real resources into crypto infrastructure, that future is arriving faster than many expected.
As the story continues to unfold, one thing is clear—companies that innovate now will lead the next era of global finance.