The large investment firm Fidelity Investments is now making commission-free crypto trading accessible to small private investors (retail) in order to accommodate the increasing interest in crypto currencies in the mainstream.
As CNBC reports , Fidelity's new crypto service offering will be run through its subsidiary Fidelity Digital Assets. The service, called Fidelity Crypto, allows retail investors to invest in Bitcoin (BTC) and Ethereum (ETH) with minimal fees. Fidelity Crypto charges a fixed fee of 1% on each trade instead of a commission. This so-called "spread" is only intended to cover any differences between the purchase and sale price.
Although Fidelity has not yet announced an exact launch date for the new service, a waiting list for early access has already been set up. With the new service, the investment company deliberately wants to get small investors on board, because the majority of Fidelity’s institutional customers are already invested in crypto.
"A significant portion of Fidelity's clients are already interested and own crypto," the asset manager confirmed to CNBC.
Fidelity Digital has continued to expand its institutional offering even in the bear market, most recently introducing Ethereum (ETH) trading and custody for wealthy retail investors. In April, the investment firm had previously attracted attention with the plan that investments in Bitcoin should be possible as part of pension savings plans.
Fidelity is already considered one of the biggest advocates of Bitcoin in the financial world. The influential investment firm even calls BTC a “superior form of money” that will gain acceptance over time. Although most of the investment firm's efforts are focused on institutional clients, rumors of crypto services for retail investors have been surging lately.
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