BitcoinBusinessTechnology
Nov 30, 2022 at 4:45 UTC765270
Fidelity, one of the world’s largest investment management services providers, has officially launched retail Bitcoin (BTC) trading. The service will allow retail investors to buy and sell BTC.
Earlier this month, Fidelity announced a waiting list for digital asset trading accounts. Around the same time, it was revealed that the investment giant was preparing to launch a Bitcoin and cryptocurrency trading product for retail investors. The product, dubbed Fidelity Crypto, would be commission-free while only charging a 1% spread on each trade.
Fidelity Crypto was set to launch under Fidelity Digital Assets, a subsidiary of the company focused on digital assets. The platform would provide retail investors with the ability to buy and sell bitcoin and cryptocurrencies, as well as access custodial and trading services offered by Fidelity Digital Assets.
The platform officially launched on November 28th and was confirmed by a Fidelity email saying “The wait is over” to some users on the waitlist. The email also stated that users need a Fidelity brokerage account to fund a new Fidelity crypto account.
A growing Bitcoin portfolio
Fidelity has been involved with BTC for quite some time. The financial services provider began mining BTC in 2014 and launched a spot Bitcoin ETF in Canada in December 2021. A 401k plan was also rolled out earlier this year, allowing users to add BTC to their accounts.
This was scrutinized by some senators, who noted in a letter to the company’s CEO that “Fidelity Investments has decided to expand beyond traditional financing and delve into the highly volatile and increasingly risky digital asset market.”
Despite this, Fidelity seems committed to Bitcoin, as evidenced by the launch of Fidelity Crypto for retail investors.
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CJ is a copywriter by trade, specializing in technology and the decentralized world. He is a firm believer in financial freedom, self-improvement and realizing your highest potential. He currently leads Techtonic copywriting while also serving as a marketing consultant for several startups and companies.
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