Fidelity launches new retirement account, expanding investment opportunities in cryptocurrency for Americans

Fidelity, one of the leading financial services corporations in the world with a total asset under management value of up to 5.9 trillion USD, has officially introduced new retirement accounts that allow Americans to invest in cryptocurrencies at almost no cost.

These accounts include a traditional tax-deferred IRA and two Roth IRAs, one of which is a conversion account. All allow users to buy and sell Bitcoin, Ether, and Litecoin. Notably, Fidelity does not charge account opening or maintenance fees, but will apply a 1% spread on the execution price of cryptocurrency buy and sell transactions.

These cryptocurrency IRA accounts are developed by Fidelity Digital Assets, a subsidiary of Fidelity, which previously only served institutional investors in the field of cryptocurrency trading.

Fidelity's expansion of its customer base is seen as a clear sign of change in the cryptocurrency landscape in America. The country has witnessed significant advancements, from the adoption of strategic Bitcoin reserves to major companies, including Circle – the stablecoin issuer – filing for an initial public offering (IPO).

Fidelity also emphasized that, to ensure safety, the majority of their cryptocurrencies are stored in cold storage, which means cryptocurrency wallets that are not connected to the internet to minimize security risks.

Changes in BTC and ETH Approach from Retirement Accounts

Although buying cryptocurrency directly in an IRA account has never been completely banned, according to Investopedia, very few IRA providers allow this transaction. The emergence of new IRA accounts from Fidelity may mark an important turning point in the investment landscape.

Starting in 2024, Bitcoin and Ethereum enthusiasts have an additional investment option through the (ETF) related to these two coins. These ETF funds have opened up opportunities for investors in America to access the cryptocurrency market from their retirement accounts, depending on the brokerage firm.

In addition, Bitcoin IRA accounts, which are self-directed retirement accounts with tax advantages, are becoming increasingly popular. Some cryptocurrency companies like BitIRA even offer specialized IRA accounts for digital assets, allowing users to add altcoins like Litecoin to their retirement investment portfolio.

The trend of investing cryptocurrency into retirement accounts is increasing

The expansion of cryptocurrency investment opportunities into retirement accounts is gradually becoming a trend in America. On April 1st, Senator Tommy Tuberville of Alabama reintroduced a bill aimed at allowing Americans to add cryptocurrency to their 401(k) accounts. This bill proposes to ease the current regulations issued by the Department of Labor, paving the way for robust growth of cryptocurrency in the retirement investment sector.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

• Expectations from Pi Network (PI) in April
• Trump imposes a 46% tariff on Vietnam, stocks and Bitcoin plummet due to instability.

Mr. Teacher

@media only screen and (min-width: 0px) and (min-height: 0px) { div[id^="wrapper-sevio-d89f58f5-7b63-40be-98c0-6b1fd62584fb"] { width:320px; height: 100px; } } @media only screen and (min-width: 728px) and (min-height: 0px) { div[id^="wrapper-sevio-d89f58f5-7b63-40be-98c0-6b1fd62584fb"] { width: 728px; height: 90px; } }