- The trading firm has over $9.9 trillion in assets under management.
- The company cited client demand for the expanded service in a statement.
One of the top brokerages in the world has launched a revolutionary new product for trading cryptocurrencies. For retail customers, Fidelity Investments is introducing commission-free cryptocurrency trading.
This trading firm has over $9.9 trillion in assets under management and has now revealed a waitlist for its new crypto service. The service, which the business announced on Thursday morning, would allow users to invest in Bitcoin and Ethereum.
Rising Client Demand
In a report, CNBC stated that Fidelity has unveiled a new cryptocurrency trading platform where users may purchase and sell the first and second most valuable digital currencies. The business has a $1 minimum deposit and provides trading services through its subsidiary, Fidelity Digital Assets. The company cited client demand for the expanded service in a statement it sent to CNBC.
Moreover, one of the main selling points of Fidelity’s new trading service is that it would not charge any commissions for transactions done via the service. However, the brokerage business will include a 1% spread in the price of every trade execution.
Fidelity is yet another commission-free cryptocurrency trading alternative for investors in the United States, joining Robinhood, Binance, and others. Investors have been shifting away from more conventional service models in favor of those that provide more opportunities for recurring income. Financial market participants have expressed a need that companies like Fidelity aim to fill.
Potential users may now sign up for the service’s early access waitlist. The exact launch date of the service has not been announced.
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