Fidelity Investments has announced the launch of a new IRA plan that allows investors to invest directly in cryptocurrency, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). This no-fee crypto IRA caters to U.S. citizens over 18, with the assets securely held by Fidelity Digital Assets in a cold wallet.

Key Points:

• This service comes amidst a rising demand for tax-advantaged cryptocurrency investment opportunities.
• Financial advisors are increasingly leaning towards crypto ETFs, noting a significant interest in equity exposure according to a recent TMX Vetta Fi survey.

“Fidelity is committed to offering investment products and solutions to meet the changing needs and interests of our customers, accompanied by education and support,” stated a company spokesperson.

With the introduction of this product, Fidelity aims to accommodate its clients’ increasing interest in a tax-efficient way to manage and invest in cryptocurrencies. The firm already provides a range of crypto ETFs, allowing investors to monitor digital asset prices without direct investment. Recently, Fidelity also filed to list a Solana ETF on the Cboe Exchange.