Fidelity Launches Retirement Plan Allowing Direct Investment in Crypto
Fidelity Investments has launched a retirement plan that allows direct investment in cryptocurrencies. Key points include:
- Available to U.S. citizens aged 18 and over
- Investments in Bitcoin, Ethereum, and Litecoin
- Assets are custodied by Fidelity in a cold wallet
- No fees for the crypto IRA product
- Options for Roth IRA, traditional IRA, or rollover IRA
A survey indicates that 57% of financial advisors plan to increase allocations into crypto ETFs, focusing primarily on crypto equity ETFs. Fidelity's move responds to client demand for tax-advantaged crypto trading options. The firm also offers various crypto ETFs and recently filed to list a Solana ETF on the Cboe Exchange.