Investment giant Fidelity today announced the early access waiting list for its new crypto product Fidelity Crypto – which will allow retail investors to trade Bitcoin And the Ethereum from their phones without paying a commission.
The Boston-based company, which last month launched its enterprise Ethereum trading service, He said Retail investors will soon be able to “trade cryptocurrency for less than a dollar while gaining an integrated view of both your traditional and cryptocurrency investments.” The move now puts the company in direct competition with established players in the US crypto market such as Coinbase and Robinhood.
Fidelity added that 1% spread will be added to each trade execution price – but it may initially decide not to charge this fee, which could help it attract clients and market share in an already crowded field.
The app will also provide its users with market information. “To help you understand the world of cryptocurrency, the Fidelity Investments app will have a unique educational experience,” the announcement read. Get easy access to a growing library of on-demand training and market insights.
News break first from a crypto app for retail investors in September after Galaxy Digital CEO Mike Novogratz said he heard rumors about the company’s plans.
Fidelity is one of the world’s largest asset managers and currently has more than $9.9 trillion under management, according to its website.
She has been interested in cryptocurrency for years, but this year it has already made a huge boost in the space.
In September, Fidelity Digital Assets, the company’s digital asset arm, most dangerous The “first of its kind” to offer investors “more secure, fast and efficient cryptocurrency trading” alongside other major players – including Charles Schwab.
Also this year sincerity Show has started Exchange-traded funds that track the cryptocurrency industry and the metaverse. These products do not give investors direct exposure to cryptocurrencies such as Bitcoin.
In April, Fidelity announced plans to launch Product 401(k) To allow workers to save 20% of their retirement money in Bitcoin, which has proven controversial among some Democratic lawmakers in Congress.
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