Fidelity Investments has introduced a no-fee individual retirement account that allows U.S. adults to invest in cryptocurrency in a tax-advantaged manner.
The financial giant, which manages over $6 trillion in assets, now offers Bitcoin Bitcoin
BTC
-5.05%
Bitcoin, Ethereum Ethereum
ETH
-11.41%
Ethereum, and Litecoin Litecoin
LTC
-13.65%
Litecoin within its retirement portfolio options.
The new crypto IRA provides access to tax-free (Roth) and tax-deferred (traditional and rollover) retirement accounts. While there are no account maintenance or custody fees, Fidelity applies a 1% spread on the execution price of crypto transactions.
The firm has positioned the product as a response to growing investor demand for digital assets within retirement planning.
Fidelity will store the majority of assets in cold wallets to enhance security. Clients can manage their investments through Fidelity’s existing platform, integrating crypto alongside traditional assets.
The service is subject to state availability, meaning some U.S. residents may not have immediate access.