Fidelity Investments rolled an IRA plan that invests directly in crypto on Wednesday, giving investors another method of utilizing this asset class.
The brokerage company offers Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) to any US citizen over the age of 18. The assets are outdated by Fidelity Digital Assets and are held in a cold wallet. The Crypto IRA product has no fees and customers can invest in a Roth IRA, traditional IRA or Rollover IRA, according to Fidelity’s Website.
The new product is coming as financial advisers are increasingly offering crypto to their clients. A survey conducted by TMX Vetta FI recently found that 57% of advisers are planning to increase their awards to crypto -Tfs, although their main focus is in Crypto Equity ETFs.
“Fidelity is obliged to offer investment products and solutions to meet our customers’ changing needs and interests, accompanied by education and support,” a spokesman Coindesk said.
Customers from the brokerage company have increasingly expressed interest in a tax -distributed way of shopping and keeping crypto, said a person who is familiar with the case.
Fidelity already offers a number of crypto -exchange -traded funds that let investors track the prices of digital assets without investing directly in them. The company recently filed a Solana ETF on the CBOE exchange.
Update (April 2, 16:15 UTC): Corrects the first paragraph to state that the plan was introduced on Wednesday, not Thursday, and clarifies that assets are a depot of Fidelity Digital Assets.