Fidelity Investments quietly launched IRA Crypto last week amid customer demand, giving investors the opportunity to trade and hold crypto assets on tax accounts.
Securities clients can now invest in Bitcoin, Ether and Litecoin in traditional, loss or rollover individual retirement accounts (IRAs) without account opening or maintenance fees. However, Fidelity charges a 1% spread on the execution price of the crypto transaction, as it does on a taxable crypto account. The IRA code is open to US residents in eligible states age 18 and older.
In most cases, assets are kept in cold storage (offline crypto wallets considered safer than their online counterparts) and are detained by loyal digital assets. For more information, please visit the company’s website.
“Fidelity is committed to providing investment products and solutions that meet the changing needs and interests of our customers, with education and support,” a Fidelity spokesperson told ETF.com in writing.
Despite its volatile nature, Crypto has become part of a portfolio of many investors. 24% of financial advisors surveyed by Digital Assets Financial Professionals in the final quarter of 2024 reported that half of their clients currently own a jump of 25% since the last quarter.
A long-time leading player in the retail trading field, the fund management company has been working on developing an ecosystem of digital assets since 2014. In 2018, we began offering Zero Commissioning Crypto retail transactions.
Since then, they have launched the Fidelity Wise Origin Bitcoin Fund (FBTC) and the Fidelity Ethereum Fund (Feth). In March, the company filed with the Securities and Exchange Commission to launch an ETF that tracks the price of Sol, the native cryptocurrency of blockchain platform Solana.
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