Fidelity quietly opens crypto-trading to retail

The multinational asset management company Fidelity this week expanded access to its bitcoin trading service at individuals while the regulatory pressure on the crypto at US is increasing.

Previously offered only to institutional and, recently, wait-listed retail investors, the Fidelity Crypto platform is now open to all investors in the United States, reports Forbes.

Developed by its subsidiary Fidelity Digital Assets, the service allows you to invest in the two largest cryptocurrencies on the market – Bitcoin and Ethereum.

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The asset manager charges a 1% fee on each transaction. Clients do not yet have the ability to transfer tokens off and on the platform. That feature is expected to come, however, according to a previous announcement from the company serving more than 37 million retail accounts in the US.

The opening of Fidelity Crypto at individuals comes as U.S. regulators tighten the screws on crypto in the wake of the FTX crash and, more recently, two crypto-friendly financial institutions. This month, Silvergate and Signature have closed their doors. Both banks served several giants in the industry. Earlier this week, the SEC again suggested that tokens associated with proof-of-stake, such as ETH, should be regulated as securities.

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Last year, Fidelity launched the Ethereum Index Fund, an index fund offering, as the name suggests, exposure to Ethereum.

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