Fidelity, a firm with $5.9 trillion in assets under management, has rolled out new retirement accounts designed to let Americans invest in digital currencies. 

The three types of accounts—traditional IRAs, Roth IRAs, and those that include a rollover option—offer the opportunity to trade Bitcoin, Ethereum, and Litecoin. While these accounts have no fees for opening or maintaining them, Fidelity charges a 1% spread on crypto buy-and-sell transactions.

Crypto for Retirement Accounts

The new crypto retirement offerings are part of Fidelity Digital Assets, a subsidiary that has previously catered to institutional investors. This shift marks a significant step as Fidelity now opens up its services to individual investors, reflecting a broader industry movement toward mainstream crypto adoption.

Fidelity has stated that most of the digital assets held within the accounts will be stored in cold storage, ensuring added protection by keeping them offline and away from potential online threats.

With crypto assets being susceptible to hacks and thefts, these measures aim to mitigate those risks while giving investors confidence in the integrity of their holdings.

Fidelity Enhances Digital Asset Services

In addition to launching crypto retirement accounts, Fidelity is also making strides in the stablecoin sector. The company is reportedly in the final stages of developing a US dollar-pegged stablecoin, which it wants to launch through Fidelity Digital Assets.

This move is part of Fidelity’s larger strategy to deepen its involvement in digital assets and blockchain technology.

Furthering its push into the crypto space, Fidelity is introducing an Ethereum-backed share class within its US dollar fund. This share class is designed to track the transactions of the Fidelity Treasury Digital Fund, an $80 million fund that primarily consists of U.S. Treasury bills.

This further expands Fidelity’s crypto offerings. The firm already offers a number of crypto ETFs, helping users reduce their exposure to spot crypto prices.