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Portfolio > Alternative Investments > Cryptocurrencies

Fidelity Rolls Out Access to Retail Crypto Trading

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Fidelity’s new retail crypto trading service has come online as customers who signed up for early access have started to receive invitations, according to news reports and comments on the investing giant’s crypto sub-Reddit community.

Earlier this month, the company started encouraging its customers and other interested investors to sign up for early access to Fidelity Crypto, which will enable them to buy and sell bitcoin and ethereum through the Fidelity Investments app.

On Monday, a customer on the crypto sub-Reddit, a space within the Fidelity community on the Reddit social media site, reporting having received an invitation but encountering technical difficulties getting started with a Fidelity Crypto account.

“I’m glad to hear you got the invite link,” a moderator responded, offering tips to help resolve the problem.

On Tuesday, another user said they’d just bought some crypto and requested a printable log of transaction time, quantity and purchase/sell price. (A customer care moderator said that functionality wasn’t yet available.)

Another user reported receiving an invitation link and opening an account five days ago.

Fidelity confirmed on Tuesday that it will be rolling out its crypto trading service to eligible investors as it moves customers from the early-access list in groups in weeks to come.

“Where our customers invest matters more than ever, and Fidelity’s focus remains on providing them with tools that support their choice and facilitate secure access to markets,” a Fidelity spokesperson said.

The Block reported Monday that Fidelity had started opening the crypto retail accounts.

Separate from the Fidelty Crypto accounts, the company started allowing employers to go live this fall with a bitcoin offering in their sponsored 401(k) plans. Lawmakers and regulators have raised concerns about Fidelity’s move to allow bitcoin in retirement accounts; senators renewed their calls for Fidelity to reconsider after the recent collapse of cryptocurrency exchange FTX.

Fidelity’s website, which says customers will be able to trade crypto with as little as $1, notes: “Crypto is highly volatile, can become illiquid at any time, and is for investors with a high risk tolerance. Investors in crypto could lose the entire value of their investment.”

Fidelity Crypto trades, offered through Fidelity Digital Assets, are commission free; a 1% spread is calculated into the transaction prices, the firm says.


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