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'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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.