In a landmark move for mainstream crypto adoption, Fidelity Investments — one of the world’s largest asset management firms — has officially opened direct access to cryptocurrency trading for retail investors. Users can now buy and sell Bitcoin and Ethereum directly within their existing Fidelity brokerage accounts, marking a significant expansion of digital asset availability in traditional finance.
With over 37.1 million retail accounts, Fidelity is ahead of most U.S. financial institutions in offering crypto exposure to everyday investors. While the service is currently limited to eligible U.S. residents and not available in all states, this rollout represents a major step forward in bridging traditional finance with the evolving digital economy.
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Seamless Integration of Crypto into Mainstream Investing
Starting in mid-March, Fidelity quietly launched access to its Fidelity Crypto platform, allowing retail clients to trade Bitcoin (BTC) and Ethereum (ETH) with as little as $1. According to reports from The Block, the feature was rolled out gradually over recent weeks without an official public announcement from Fidelity Digital Assets.
This marks a shift from the previous model, where access was restricted to users on a waitlist. Now, all prior waitlisted customers have been granted entry, and new users can begin trading immediately through the Fidelity mobile app or desktop platform.
Notably, trades on Fidelity Crypto are commission-free, though Fidelity Digital Assets applies a spread of up to 1%. This transparent pricing structure aims to balance accessibility with risk management, especially given the volatile nature of cryptocurrencies.
Fidelity emphasizes that digital assets are highly speculative and may become illiquid at any time. As such, they recommend these investments only for individuals with a high tolerance for risk.
A Strategic Push into Digital Assets
Fidelity’s journey into crypto began years ago, long before retail access became feasible. The company started researching blockchain technology and Bitcoin as early as 2014, laying the groundwork for what would become Fidelity Digital Assets — a dedicated division focused on institutional-grade crypto services.
By 2018, Fidelity had launched Bitcoin trading and custody solutions for institutions. In 2019, it received a trust charter from the New York State Department of Financial Services, enabling it to operate as a regulated custodian of digital assets.
In October 2022, Fidelity expanded its institutional offerings by adding Ethereum trading, storage, and transfer capabilities — foreshadowing today’s retail launch.
This phased approach reflects a cautious yet determined strategy: first establish credibility and infrastructure in the institutional space, then carefully extend services to retail clients.
Expanding Product Offerings Beyond Direct Ownership
While direct ownership of Bitcoin and Ethereum is now available, Fidelity has also been broadening crypto access through alternative investment vehicles.
In September 2022, the firm filed with the U.S. Securities and Exchange Commission (SEC) to launch an Ethereum Index Fund, signaling growing demand for diversified exposure to smart contract platforms.
Additionally, Fidelity introduced two new exchange-traded funds (ETFs) focused on companies operating in the cryptocurrency and metaverse sectors. These funds allow investors to gain indirect exposure to blockchain innovation without holding digital assets directly.
Fidelity has also submitted an application for a Bitcoin spot ETF, which, if approved, would enable U.S. investors to gain exposure to Bitcoin’s price movements through a regulated exchange-traded product — a development closely watched by the broader market.
Building Infrastructure: The EDX Markets Initiative
Beyond product development, Fidelity is helping shape the future of crypto market infrastructure.
In late 2022, Fidelity Digital Assets joined forces with Charles Schwab and Citadel Securities to launch EDX Markets, a new digital asset exchange designed specifically for U.S.-based retail and institutional investors.
EDX aims to provide a secure, transparent, and regulated environment for crypto trading, leveraging the reputations and compliance frameworks of its founding partners. Unlike many decentralized or offshore exchanges, EDX operates under strict U.S. regulatory oversight — a key differentiator in restoring trust after high-profile collapses like FTX.
This initiative underscores Fidelity’s long-term vision: not just to offer crypto products, but to help build a more resilient and trustworthy digital asset ecosystem.
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Addressing Volatility and Regulatory Uncertainty
Despite Fidelity’s aggressive moves, challenges remain. The crypto market experienced significant turbulence in 2022, culminating in the collapse of FTX — an event that deepened skepticism among regulators and traditional financial players.
Fidelity acknowledges these risks. On its website, the company warns that cryptocurrencies are subject to extreme price swings and potential liquidity issues. It advises investors to consider their overall portfolio strategy before allocating funds to digital assets.
Regulatory clarity remains elusive at the federal level, though Fidelity’s cautious, compliance-first approach positions it well for potential future regulations. By working within existing frameworks and engaging proactively with regulators, Fidelity aims to lead rather than follow in the evolution of digital finance.
Frequently Asked Questions (FAQ)
Q: Who can use Fidelity’s crypto trading service?
A: The service is available to U.S. residents with a Fidelity account, though availability varies by state. Not all states currently support crypto trading through the platform.
Q: What cryptocurrencies does Fidelity offer?
A: As of now, Fidelity supports direct trading of Bitcoin (BTC) and Ethereum (ETH) through its Fidelity Crypto feature.
Q: Are there fees for buying crypto on Fidelity?
A: There are no commissions charged for trades. However, Fidelity Digital Assets applies a spread of up to 1% on transactions.
Q: Is my cryptocurrency insured if I hold it with Fidelity?
A: While specific insurance details are not fully disclosed, Fidelity stores digital assets using cold storage and enterprise-grade security protocols similar to those used for institutional clients.
Q: Can I transfer my crypto out of Fidelity?
A: Currently, Fidelity does not support outbound transfers of cryptocurrency. Assets must be sold within the platform, and proceeds converted to cash.
Q: Does Fidelity offer a crypto wallet?
A: No — users cannot withdraw or self-custody their coins. All holdings remain on Fidelity’s platform.
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The Road Ahead for Traditional Finance and Crypto
Fidelity’s latest move highlights a growing trend: traditional financial institutions are no longer观望 (on the sidelines) when it comes to cryptocurrency. With solid infrastructure, regulatory engagement, and user-friendly tools, firms like Fidelity are making digital assets more accessible — and acceptable — to mainstream investors.
As adoption grows, expect further integration of blockchain-based products into retirement accounts, brokerage platforms, and wealth management services.
For now, Fidelity stands at the forefront — not just offering crypto trading, but shaping how millions of Americans interact with this transformative asset class.
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