Fidelity Launches Fee-Free Retirement Savings Plan (IRA) Allowing Americans to Invest in Bitcoin, Ethereum, and Litecoin with Secure Cold Wallet Storage
Fidelity, the American investment giant, is expanding its offerings with a groundbreaking product: a fee-free crypto retirement savings plan. This is a direct response to the growing demand for advantageous tax options for long-term digital asset holdings.
Now, any American citizen over the age of 18 can open an Individual Retirement Account (IRA) at Fidelity and directly invest in Bitcoin, Ethereum, or Litecoin. There are three options available: Roth IRA, traditional IRA, and rollover IRA. The assets will be purchased in spot and securely stored in a cold wallet by Fidelity Digital Assets, ensuring offline storage and protection against hacks.
This new crypto retirement product is completely free, unlike other retirement products that charge fees for management or transactions. Fidelity’s clear strategy is to attract a young, tech-savvy clientele who are concerned with maximizing long-term tax benefits.
A Growing Demand from Investors… and Advisors
According to a source close to the matter, Fidelity’s clients have been requesting a way to combine crypto investments with tax advantages for months. This trend is also evident among financial professionals: a recent study conducted by TMX Vetta Fi reveals that 57% of financial advisors plan to increase their exposure to crypto ETFs, with a notable preference for funds backed by sector stocks rather than tokens themselves.
Fidelity has already made a move in the crypto ETF market by offering several products indexed to the price of digital assets. The latest development is the filing for an ETF Solana on the Cboe exchange, demonstrating its ongoing expansion of offerings.
A Strategic Turning Point for Fidelity
By launching this new retirement plan, Fidelity solidifies its position as one of the most adventurous financial institutions in adopting cryptocurrencies. The company combines a regulated approach, product innovation, and educational support.
Fidelity is committed to offering products and solutions that meet the evolving needs of its clients, accompanied by educational support.
Spokesperson for Fidelity at CoinDesk.
The institution is betting that crypto is not just a speculative asset class but also a strategic component of long-term portfolios. In a landscape where US regulations are still unclear on certain aspects, this advancement may prompt other giants to follow suit.
