July 18, 2024

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Financial services behemoth Fidelity Investments has opened access to a wait list for its bitcoin trading offering, according to its website. Users can express interest in the product, offered by its subsidiary Fidelity Digital Assets, by signing up on the firm’s web page. The product will waive commission fees, an attempt to compete with popular cryptocurrency exchanges such as Binance that have recently launched zero-fee trading. Fidelity, however, will charge a 1% spread fee.

Fidelity has for the past year taken longer strides on the cryptocurrency sector. The asset manager, one of the world’s largest with over $4.5 trillion in assets under management as of September 2022, offers institutional products through Fidelity Digital Assets, including a spot bitcoin ETF in Canada, but the firm’s new moves would cater to the retail investor group.

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