Fidelity to offer retail clients access to Bitcoin and Ethereum investments

The investment giant Fidelity Investments has opened a waitlist for its retail-focused Fidelity Crypto product.

Get on the early-access list to trade bitcoin and ethereum and discover educational resources that make crypto a lot less cryptic. https://t.co/n1akhp2gBg pic.twitter.com/sZjQo7qVNg

— Fidelity Investments (@Fidelity) November 3, 2022

According to the project page, Fidelity Crypto will offer clients commission-free trading of cryptocurrencies and custody services through the Fidelity Investments App. The storage of digital assets will be handled by the Fidelity Digital Assets (FDA) unit.

“There will be no commissions on cryptocurrency trades executed through Fidelity Crypto. FDA will charge a spread (no more than 1%), calculated as the difference between the buy or sell price on the account and the order’s execution price,” the site says.

In the initial phase, users will have access to Bitcoin and Ethereum trading. The list of supported cryptocurrencies will be expanded in the future.

The company already offers investment services to institutional clients through Fidelity Digital Assets. In October, the unit announced plans to hire an additional 100 employees over the next six months.

In October, FDA unveiled plans to expand the product lineup to include Ethereum.

In October, 74% of Fidelity’s institutional respondents said that planned to acquire digital assets in the future, despite the crypto winter.

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