Fidelity launches crypto-focused IRA letting investors trade in bitcoin, ether and litecoin
Fidelity Investments has launched an individual retirement account (IRA) that lets individuals to invest in cryptocurrencies under its web3-focused subsidiary Fidelity Digital Assets.
The Fidelity Crypto for IRAs lets investors add cryptocurrency to their retirement portfolio, though the digital assets are currently limited to bitcoin, ether and litecoin, according to the firm's website. There are three types of IRA account registrations: the Fidelity Crypto Roth IRA, the Fidelity Crypto Traditional IRA and the Fidelity Crypto Rollover IRA.
An investor must be a United States citizen in an eligible state and be at least 18 years old to gain access to these accounts, the firm's site continues.
"Fidelity is committed to offering investment products and solutions to meet the changing needs and interests of our customers, accompanied by education and support," a Fidelity spokesperson told The Block.
The launch of Fidelity's crypto-focused IRAs comes after a smattering of numerous digital asset investment vehicles, such as Volatility Shares launching two exchange-traded funds tracking solana's performance, and proposed funds tracking litecoin, BNB, PENGU and other tokens, The Block previously reported.
Bitcoin, ether and litecoin are respectively the first, second and twenty-third largest cryptocurrencies by market capitalization, according to The Block prices.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Japanese Finance Minister: Sanae Takaichi is not a "reflationist" and highly respects the independence of the central bank
The Japanese Finance Minister stated that Ms. Komei herself has repeatedly requested her to clarify this position to overseas investors. This statement attempts to dispel the market’s perception that the Komei government interferes with the central bank or pursues a loose monetary policy. Last Wednesday, two committee members nominated by Komei opposed a Bank of Japan interest rate hike, further reinforcing the market’s view that the Japanese government tends to delay rate increases.
HIFI Raises $37M Series A to Build Settlement Rails for Tokenized Money
Report: Anthropic in talks to lease up to 1GW of data center capacity, with related investments of at least 40 billions dollars
According to media reports, Anthropic is considering renting up to 1GW of computing power from Stream Data Centers. The data center developer indicated that deploying a full 1GW of computing power would require an investment of at least 40 billion USD. Anthropic needs to provide financial guarantees for this lease and separately raise funds for the installed chips.
Crypto prices
More
