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Fidelity Announced Institutional Crypto Analytics Platform Sherlock

One of the largest asset management companies, Fidelity Investments, decided to explore the cryptocurrency universe’s vastness further. So, on April 29, the company announced the launch of the Sherlock analytical platform. It’s touted as a solution to help institutional investors and investment managers manage digital assets more efficiently.

The platform itself will be similar to the Bloomberg Terminal, a computer system for analyzing financial markets. However, its functionality will be much broader and more profound. So, Sherlock will combine the following data into one portal:

  • fundamental analysis;
  • technical analysis;
  • blockchain data;
  • current market situation;
  • analysis of sentiment in the crypto community;
  • crypto world news.

In addition to unique analytics, the platform will also provide research from leading institutional analysts. And all this is intended to help investors in the correct assessment of the market.

Why this platform appeared

The new solution from Sherlock will compete with similar analytical platforms, primarily Messari and Delphi Digital.

Kevin Vora, vice president of the Fidelity Center for Applied Technologies (FCAT) for Product Management, said that the crypto world is a focus of institutional investors:

“It’s great to see how many Big Data solutions have emerged in the crypto space in recent years. Despite the rapidly maturing market, there is an institutional need for complete and affordable data processing. That’s why we present Sherlock.”

In addition to advanced data analytics functionality, Sherlock will also allow analyzing data offline. So institutional investors can build models from history and test them.

Senior Researcher at Blockchain Capital Kinjal Shah commented on this:

“One of the main problems when studying the cryptocurrency market is collecting a vast amount of data from hundreds of resources. It isn’t easy to do this based on existing algorithms. Therefore, we hope that Sherlock will make research more efficient. After all, it is essential to receive the necessary data on time since the crypto market changes every second.

Also, the Fidelity Center for Applied Technology has a blockchain incubator team. It constantly researches the distributed ledger and creates proof algorithms based on specific use cases for the blockchain.

Fidelity is no stranger to crypto

Fidelity Investments investment fund started working with crypto in 2014. Then it was announced that the company would mine BTC in its favor. And on March 24 this year, Fidelity applied to create a stock market index. The company aimed to become the first supplier of such products in the United States.

Earlier, the head of the crypto division of Fidelity Investments, Tom Jessop, said that the situation in the crypto industry had reached a critical point.

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