Fidelity Investments, one of the world's largest brokerage firms, is launching Fidelity Crypto, a service that lets ordinary investors to trade BTC & ETH commission-free.
According to Fidelity, a significant portion of its customers are already interested in and hold cryptocurrency.
Is launching a commission-free cryptocurrency trading service for regular clients.
As of June 30, the firm served around 40 million individual investors and had approximately $9.9 trillion in assets under administration.
As per the website, Fidelity Crypto allows you to purchase and sell bitcoin and ethereum on the Fidelity Investments app.
The company issued an early access waitlist to users on Thursday morning but did not specify a launch date. Fidelity Investments' official Twitter account stated, "Get on the early-access list to trade BTC & ETH and uncover educational resources that make crypto a lot less obscure."
Fidelity Digital Assets, a division of Fidelity Investments, will provide crypto custodial and trading services.
Users will be able to trade starting at $1. While trades with Fidelity Crypto will be commission-free, the company has said that each trade execution price would include a 1% spread.
On November 4, Fidelity told local media outlets that “a sizable fraction of its customers are already interested in and own cryptocurrency. We're giving them tools to help them make their decision, so they can benefit from Fidelity's education, research, and technology.”
Since 2018, Fidelity Digital Assets has provided institutional investors with bitcoin (BTC) services. The company recently began trading ether (ETH).
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