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Fidelity Opens Waiting List for Retail Crypto Product
The launch is another sign of the investment giant's interest in crypto.
Updated May 9, 2023, 4:01 a.m. Published Nov 3, 2022, 1:23 p.m. 1 min read
Financial services giant Fidelity Investments has opened the waiting list for Fidelity Crypto, its crypto product aimed at retail customers.
The upcoming product launch is another sign of the investment giant's interest in crypto. Fidelity Digital Assets, a unit of the firm, already offers crypto investing to institutional clients.
According to Fidelity's website, the new product will offer commission-free bitcoin and ether trading, although it notes that a spread of up to 1% will be charged.
A recent report revealed that Fidelity was contemplating whether or not it would let individual brokerage customers trade bitcoin.
Fidelity is a prominent player in the institutional crypto space, it issued a bitcoin exchange-traded fund (ETF) in Canada and has several ETFs in the United States.
Fidelity's move to target the retail market follows a wider trend across crypto, with banking giant Goldman Sachs eyeing a collaboration with retail-focused crypto exchange FTX earlier this year.
UPDATE (Nov. 3, 13:53 UTC): Adds context throughout.
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