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 Offer Crypto Trading to Retail Investors
Fidelity Investments is one of the most well-known brokerages worldwide and has launched a free, commission-free, crypto trading platform for retail investors. About 40 million investors are served by the firm, which had approximately $9.9 trillion of assets under management as of June 30, 2018. The financial giant’s website explains:
Fidelity Crypto offers you the opportunity to purchase and sell Bitcoin and Ethereum using Fidelity Investments’ app.
Although the company announced Thursday morning that it had opened an early-access waitlist, they did not specify a date for its 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.”
Fidelity Digital Assets will provide crypto trading and custodial services. It is a subsidiary company of Fidelity Investments.
Customers will have the ability to trade as little as $1. Fidelity Crypto trades will not incur commissions, but the company stated that it would factor in a 1% spread to every trade execution price.
CNBC interviewed Fidelity Thursday
Fidelity clients make up a significant portion of the crypto market. We are providing them with tools to support their choice, so they can benefit from Fidelity’s education, research, and technology.
Since 2018, Fidelity Digital Assets offers bitcoin (BTC), services to institutional investors. Recently, the firm added trading in ether (ETH).
Fidelity Investments offers retail cryptocurrency trading. What are your thoughts? Comment below.
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