Fidelity Starts Offering Bitcoin and Ethereum Trading to 34.4M Customers

Despite opposition from US politicians, investment firm Fidelity has introduced new retail crypto trading accounts, moving deeper into the troubled cryptocurrency sector.

The investment giant with over $4.5 trillion of assets under management and holding 34.4 million retail accounts, made the announcement on its website on Tuesday.

“Fidelity Crypto is your opportunity to buy and sell Bitcoin and Ethereum in the Fidelity Investments App.”

In September, sources close to Fidelity already revealed the firm would soon be offering the top two crypto assets to its clients.

Fidelity revealed plans for the platform earlier this month and invited clients to join an early-access list. Fidelity stated at the time that many Fidelity customers “are already interested in and own crypto. We are providing them with tools to support their choice, so they can benefit from Fidelity’s education, research, and technology.”

The only cryptocurrencies accessible for trading on the Fidelity Crypto platform at the time of launch will be Bitcoin and Ethereum, but Fidelity confirmed over time it will introduce other other cryptocurrencies and possibly trading of options as well. For now, the platform will not allow crypto transfers.

Furthermore there will be no commission on crypto trading, however a maximum 1% spread will be included into every transaction.

In the last week of October, Fidelity launched a Fidelity Ethereum Index Fund via its subsidiary, Fidelity Digital Assets offering its clients exposure to the leading smart contract network Ethereum at a minimum backing of $50,000. U