What's Hot

    CBDC Anti-Surveillance State Act Advances Through House Committee

    September 21, 2023

    CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

    September 21, 2023

    Stanford University to Return $5.5 Million in Crypto Gifts from FTX

    September 21, 2023
    Facebook Twitter Instagram
    Facebook Twitter Instagram
    The Bull's GazetteThe Bull's Gazette
    Members Area
    • News
      1. Markets
      2. Policy & Economy
      3. Business
      4. Tech
      Featured

      CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

      News September 21, 2023
      Recent

      CoinEx Resumes Operations and Fortifies Security After $70 Million Hack

      September 21, 2023

      Stanford University to Return $5.5 Million in Crypto Gifts from FTX

      September 21, 2023

      Balancer Attributes Website Hijack to DNS Provider Due to ‘Social Engineering Attack’

      September 21, 2023
    • Features
      • Opinion
    • Research
      • Publications
      • Market Analysis
      • Contribute
    • Finance & Crypto Guides
    • Consultation
    • Membership
    • Store
    The Bull's GazetteThe Bull's Gazette
    Home»News»Business»Fidelity Set to Offer Crypto Trading to Retail Investors
    Business

    Fidelity Set to Offer Crypto Trading to Retail Investors

    Anietie DavidBy Anietie DavidNovember 4, 2022Updated:November 7, 2022No Comments3 Mins Read
    Fidelity Investments Set to Offer Crypto Trading to Retail Investors
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Fidelity’s 34 million retail investors can buy Bitcoin and Ethereum with no commission. Fidelity has also started adopting cryptocurrencies in their retirement plans.

    Investment giant Fidelity appears to have finally allowed its retail investors to trade Bitcoin and Ethereum. The $4.5 trillion asset manager has set up an early access waiting list for users to trade the two assets, giving potential crypto access to 34 million investors.

    Dubbed Fidelity Crypto, the service will also provide investors with beginner-friendly educational resources about the crypto industry. Users can trade stocks within the same app. Though only Bitcoin and Ethereum will be offered at first, other digital assets will also be considered in the future. It is unclear when the product will be launched. The site says trades are “commission free”. However, it noted that Fidelity charges a spread of up to 1% based on the difference between the user’s cryptocurrency purchase price and the price at which the order is filled.

    Fidelity Digital Assets — the cryptocurrency-focused division of the asset management firm — began offering bitcoin to institutions in 2018. Most recently, it opened an Ethereum institutional trading desk last month. It will now also support Fidelity Crypto.

    Fidelity’s retail offering comes less than two weeks after Fidelity agency president Michael Durbin said he sees more crypto space in consumers’ portfolios. Rumors of the offer surfaced in September when sources contacted by The Wall Street Journal said Fidelity was weighing plans for the matter. Galaxy Digital CEO Mike Novogratz shared the same rumors at the time.

    Fidelity Rolling Out Cryptocurrencies in its Retirement Plan

    The asset management company added that some of its 401(k) retirement plans have started adding Bitcoin to their investment menus. Similarly, ForUsAll, a San Francisco-based 401(k) provider, said about eight weeks ago that 50 of its 550 customers had started investing employees’ retirement savings in Bitcoin and Ethereum.

    When Fidelity first announced Bitcoin for retirement in April, it said the product was in high demand among employers and employees alike. Other 401(k) providers, including Vanguard Group, Alight Solutions LLC, and T. Rowe Price Group Inc, have no similar plans, according to a Wall Street Journal report. In contrast, they see a lack of corporate demand and an unclear regulatory environment around digital assets.

    However, ForUsAll CEO David Ramirez noted that his company has a greater need for digital assets. Of the 2,500 ForUsAll employees eligible to invest through such a program, 300 do, he said.

    Blockchain Crypto trading Economy Fidelity Digital Assets Top
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleCrypto Exchange Deribit Loses $28m in Hot Wallet Hack
    Next Article OpenSea Enforces NFT Royalties Amidst Community Backlash
    Anietie David

    Anietie has worked in the blockchain industry for three years, gaining experience in blockchain technology, cryptocurrencies, DeFi, and NFTs. As a seasoned content writer, he is passionate about creating effective content strategies for blockchain brands. In addition to content writing, he also has a strong interest in front-end development. When he's not working, he spends his time reading horror novels or playing CODM.

    Related Posts

    London Stock Exchange Group Plans Blockchain-Based Platform for Traditional Assets

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    PayPal Introduces Cryptocurrencies Hub in Latest Update

    August 14, 2023
    Add A Comment

    Leave A Reply Cancel Reply

    Top Posts

    Hong Kong Monetary Authority (HKMA) Issues Warning on Misleading Crypto Banking Claims

    September 18, 2023

    Report Shows that 99% of Nigerians are Crypto Aware

    September 4, 2023

    Hong Kong Report Reveals Positive Impact of Bond Tokenization on Market

    August 26, 2023

    Our best content, straight to your inbox.

    Disclaimer

    Capital at risk. Content on this website does not constitute financial advice. Please do your due diligence before making any investment.

    Company
    Company

    At the forefront of news and analysis for emerging markets, business, crypto and tech - TBG is redefining financial information through resources for next-generation economics.

    Facebook Twitter Instagram LinkedIn TikTok Discord
    Links
    • About
    • Contribute
    • Advertise
    • Careers
    • Membership
    • Investor Relations
    • Frequently Asked Questions

    TBG Newsletter

    © 2023 The Bull's Gazette.
    • Terms and Privacy
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.