Fidelity Investments has introduced zero-fee retirement plans that offer exposure to major cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. These plans are available to US citizens over 18 in states supported by Fidelity Digital Assets for crypto IRAs. The company is offering three types of IRAs: Roth IRA, traditional IRA, and Rollover IRA. Investors interested in a Fidelity Crypto IRA must also hold a Fidelity brokerage IRA with the same registration type.
To open a Fidelity Crypto IRA, investors need a linked brokerage IRA to fund the account and execute trades. If they don’t already have a qualifying brokerage IRA, Fidelity will open one alongside the crypto IRA. The decision to include only Bitcoin, Ethereum, and Litecoin in the plans reflects Fidelity’s focus on established assets with higher market capitalization and liquidity. While there are no maintenance fees for the Fidelity Crypto IRA, a 1% spread will be applied to buy and sell orders to cover costs.
Customers utilizing the Fidelity Crypto IRA will still have access to traditional retirement account features, such as beneficiary management. Beneficiaries for the crypto IRA will be the same as those designated on the linked brokerage IRA, and changes can be made through the brokerage IRA platform. This initiative is the latest development from Fidelity Digital Assets, the arm of Fidelity that specializes in crypto custody, trading, and management. The company is committed to expanding its offerings and services in the cryptocurrency space.
In summary, Fidelity Investments has introduced zero-fee retirement plans that provide exposure to major cryptocurrencies for US citizens over 18 in supported states. These plans include Roth IRA, traditional IRA, and Rollover IRA options, with a linked brokerage IRA required to fund the Fidelity Crypto IRA. Bitcoin, Ethereum, and Litecoin are the only cryptocurrencies included, reflecting Fidelity’s focus on established assets with higher liquidity. While there are no maintenance fees for the Fidelity Crypto IRA, a 1% spread will be applied to buy and sell orders. Customers can access traditional retirement account features, such as beneficiary management, through the brokerage IRA platform. This initiative is the latest from Fidelity Digital Assets, emphasizing the company’s commitment to expanding its presence in the cryptocurrency space.
