Fidelity Investments rolled out a retirement plan that invests directly in Crypto on Thursday, offering investors another way to tap on this asset class.
The brokerage offers Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) to US citizens age 18 and older. The assets are loyally detained and held in a cold wallet. Crypto IRA products have no fees and customers can invest in Roth IRA, traditional IRA, or rollover IRA, according to the Fidelity website.
This new product comes as financial advisors are increasingly providing encryption to clients. A survey by TMX Vetta Fi recently showed that 57% of advisors are planning to increase their allocation to crypto ETFs, but the biggest focus is on Crypto Equity ETFs.
“Fidelity is committed to providing investment products and solutions that meet the changing needs and interests of our customers, with education and support,” a spokesperson told Koindsk.
Securities firm clients are increasingly expressing their benefits in the tax-friendly way of trading and holding crypto, someone who is a problem-savvy person.
Fidelity already provides funds that are traded on many crypto exchanges. This allows investors to track the price of digital assets without direct investment. The company recently submitted it to Cboe Exchange to list the Solana ETF.
