Fidelity Investments is the latest major US-based financial institution to offer investors cryptocurrency investment products, following in the footsteps of other companies, including Citigroup and Morgan Stanley, in offering crypto and blockchain related products.

Fidelity Investments CEO, Abigail Johnson, revealed at a recent event at the company’s headquarters that they are working on some cryptocurrency products that they hope to unveil towards the end of the year.

“We’ve got a few things underway, a few things that are partially done but also kind of on the shelf because it’s not really the right time. We hope to have some things to announce by the end of the year.”

Johnson’s comments regarding their work on blockchain and cryptocurrency products are unsurprising, considering that the company has been one of the few in the finance sector to show early interest in the industry.

In 2015, Fidelity’s independent public charity organization, Fidelity Charitable, began allowing donors to donate using Bitcoin and other cryptocurrencies. Last year, the firm raised a total of $69 million in cryptocurrencies, ten times more than they had raised in crypto the previous year.

Johnson spoke about the popularity of their Bitcoin donation program, saying “That was a surprising hit. It worked out because there were so many people, newly incredibly wealthy through Bitcoin, who were looking to become philanthropists. We made it really easy for them.”

Fidelity has also run a Bitcoin mining operation that was incredibly profitable. The goal of this operation was to enter the cryptocurrency markets while they were in their infancy, and to better understand them conceptually. Johnson also spoke about this, saying:

“It seemed like kind of a dubious concept at the time, but I think the price [of Bitcoin] was around $160 to $180 at the time we launched the mining operation. We never thought we’d make money, but we figured it would be a good idea because we’d get in at the ground level and we’d learn something.”

Johnson expressed confidence that the financial markets will eventually go “100% electronic,” and that for now Fidelity has run through multiple ideas regarding products relating to Bitcoin and other cryptocurrencies.

Johnson explained the process of developing a cryptocurrency product, saying:

“What we started with was building a long list of use cases for either Bitcoin, Ethereum, other cryptocurrencies, or potentially just raw blockchain technology. Most of them have been scrapped by now or at least put on the shelf. The things that actually survived were not the things I think necessarily we expected. We were trying to listen to the marketplace and anticipate what would make sense.”