Fidelity Investments, one of the world’s largest brokerage firms with $9.9 trillion in assets under administration, is launching Fidelity Crypto, a service that allows retail investors to trade bitcoin and ether commission-free. “A meaningful portion of Fidelity customers are already interested in and own crypto,” the firm said.
Fidelity Investments to Begin Offering Crypto Trading to Retail Investors
Fidelity Investments, one of the largest brokerages in the world, is launching a commission-free crypto trading service for retail investors. The firm serves about 40 million individual investors and had about $9.9 trillion in assets under administration as of June 30. The financial giant’s website explains:
Fidelity Crypto is your opportunity to buy and sell bitcoin and ethereum in the Fidelity Investments app.
The company opened an early access waitlist to users Thursday morning but did not provide an exact date of launch. The official Twitter account for Fidelity Investments wrote: “Get on the early-access list to trade bitcoin and ethereum and discover educational resources that make crypto a lot less cryptic.”
The crypto custodial and trading services will be provided by Fidelity Digital Assets, a subsidiary of Fidelity Investments.
Users will be able to trade with as little as $1. While trades with Fidelity Crypto will be commission-free, the company said it will factor in a 1% spread into every trade execution price.
Fidelity told CNBC Thursday:
A meaningful portion of Fidelity customers are already interested in and own crypto. We are providing them with tools to support their choice, so they can benefit from Fidelity’s education, research, and technology.
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