Fidelity launches crypto-focused IRA letting investors trade in bitcoin, ether and litecoin
Quick Take
- The Fidelity Crypto for IRA lets investors add cryptocurrency to their retirement portfolio, though the digital assets are currently limited to bitcoin, ether and litecoin.
- There are three types of IRA account registrations: the Fidelity Crypto Roth IRA, the Fidelity Crypto Traditional IRA and the Fidelity Crypto Rollover IRA.
Fidelity Investments has launched an individual retirement account (IRA) that lets individuals to invest in cryptocurrencies under its web3-focused subsidiary Fidelity Digital Assets.
The Fidelity Crypto for IRAs lets investors add cryptocurrency to their retirement portfolio, though the digital assets are currently limited to bitcoin, ether and litecoin, according to the firm's website. There are three types of IRA account registrations: the Fidelity Crypto Roth IRA, the Fidelity Crypto Traditional IRA and the Fidelity Crypto Rollover IRA.
An investor must be a United States citizen in an eligible state and be at least 18 years old to gain access to these accounts, the firm's site continues.
"Fidelity is committed to offering investment products and solutions to meet the changing needs and interests of our customers, accompanied by education and support," a Fidelity spokesperson told The Block.
The launch of Fidelity's crypto-focused IRAs comes after a smattering of numerous digital asset investment vehicles, such as Volatility Shares launching two exchange-traded funds tracking solana's performance, and proposed funds tracking litecoin, BNB, PENGU and other tokens, The Block previously reported.
Bitcoin, ether and litecoin are respectively the first, second and twenty-third largest cryptocurrencies by market capitalization, according to The Block prices.
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