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Fidelity Opens Waiting List for Retail Crypto Product
The launch is another sign of the investment giant's interest in crypto.
Financial services giant Fidelity Investments has opened the waiting list for Fidelity Crypto, its crypto product aimed at retail customers.
The upcoming product launch is another sign of the investment giant's interest in crypto. Fidelity Digital Assets, a unit of the firm, already offers crypto investing to institutional clients.
STORY CONTINUES BELOW
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According to Fidelity's website, the new product will offer commission-free bitcoin and ether trading, although it notes that a spread of up to 1% will be charged.
A recent report revealed that Fidelity was contemplating whether or not it would let individual brokerage customers trade bitcoin.
Fidelity is a prominent player in the institutional crypto space, it issued a bitcoin exchange-traded fund (ETF) in Canada and has several ETFs in the United States.
Fidelity's move to target the retail market follows a wider trend across crypto, with banking giant Goldman Sachs eyeing a collaboration with retail-focused crypto exchange FTX earlier this year.
UPDATE (Nov. 3, 13:53 UTC): Adds context throughout.
Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
