Fidelity Investmentshas recently launchedFidelity Crypto for IRAs, which gives investors a way to includedigital assetslike Bitcoin, Ethereum, and Litecoin directly in their retirement portfolios, as per a report.

Fidelity Crypto for IRAs

This responds to the growing interest from Americans who want to hold crypto in a tax-advantaged account and integrates traditional retirement savings with the growing cryptocurrency market, as per Blockchain Magazine report.

The new offering, launched on April 2 this year, allows US adults, who are 18 years and above to invest in Bitcoin, Ethereum, and Litecoin via Roth, traditional, or rollover IRAs, in eligible states, according to the report.

A New Way to Invest in Digital Assets for Retirement

Here are the key features, as per Blockchain Magazine:

• No Account Fees are taken as investors can open and maintain the account without any additional costs, Blockchain Magazine.
• Transaction Fees are just a 1% spread applied to the execution price of crypto buy and sell transactions, according to the report.
• Enhanced Security is also included as most cryptocurrencies are stored in digital wallets not connected to the internet, ensuring robust security standards, as per Blockchain Magazine.
• Risk Awareness is another important feature as the product is designed for investors with a high-risk tolerance, acknowledging the volatile nature of cryptocurrencies, as per the report.
• Eligibility criteria include that it is available to United States adults aged 18 and over in eligible states, excluding California and Oregon, reported Blockchain Magazine.

Fidelity To Explore More

Fidelity is also reportedly considering more innovations in the crypto industry, like testing a stablecoin through its digital assets arm, according to Blockchain Magazine. The company has also submitted a proposal to the SEC for a blockchain-based US dollar money market fund, reported Blockchain Magazine.

FAQs

What is Fidelity Crypto for IRAs?
It’s a new way for investors to include Bitcoin, Ethereum, and Litecoin in their retirement accounts like Roth or traditional IRAs, as per Blockchain Magazine report.

Can anyone open an account?
It’s available to US adults aged 18 and over, except those living in California and Oregon, as per the report.