Fidelity Lets Investors Directly Invest in Crypto Through New Retirement Plan

Fidelity Investments rolled out a retirement plan that invests directly in crypto on Thursday, giving investors another method for tapping this asset class.

The brokerage firm offers bitcoin (BTC), ethereum (ETH) and Litecoin (LTC) to any U.S. citizen over the age of 18. The assets are custodied by Fidelity and held in a cold wallet. The crypto IRA product has no fees, and customers can invest in a Roth IRA, traditional IRA or rollover IRA, according to Fidelity’s website.

The new product comes as financial advisors are increasingly offering crypto to their clients. A survey by TMX Vetta Fi recently showed that 57% of advisors plan on increasing their allocations into crypto ETFs, although their biggest focus is in crypto equity ETFs.

“Fidelity is committed to offering investment products and solutions to meet the changing needs and interests of our customers, accompanied by education and support,” a spokesperson told CoinDesk.

Clients of the brokerage firm have increasingly voiced interest in a tax-advantaged way to trade and hold crypto, a person familiar with the matter, said.

Fidelity already offers a number of crypto exchange-traded funds, which let investors track the prices of digital assets without directly investing in them. The company recently filed to list a Solana ETF on the Cboe Exchange.

İlginizi Çekebilir:Crypto Winter Appears to Have Arrived With Bitcoin, Top 50 Tokens Falling Into Bear Market Territory: Coinbase Institutional
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