Can You Trade Crypto on Fidelity: Latest Policy and Options

Curious if you can trade crypto on Fidelity? As digital assets gain mainstream attention, many investors look to established platforms for secure crypto trading. This article clarifies Fidelity's current crypto trading policies, recent industry updates, and practical alternatives for those eager to participate in the crypto market.

Fidelity's Crypto Trading Policy: What’s Available?

Fidelity is a well-known financial services provider, but can you trade crypto on Fidelity directly? As of June 2024, according to Fidelity's official resources, retail investors cannot buy or sell cryptocurrencies like Bitcoin or Ethereum directly on the Fidelity brokerage platform. Instead, Fidelity offers limited crypto exposure through specific products:

• Fidelity Crypto: Launched in late 2022, this service allows eligible U.S. retail customers to buy and sell Bitcoin and Ethereum via the Fidelity Investments app. However, the service is not available in all states and does not support a wide range of cryptocurrencies.
• Crypto ETFs and Mutual Funds: Investors can gain indirect exposure to crypto through Fidelity-managed ETFs and mutual funds that invest in companies related to blockchain technology or hold Bitcoin futures contracts.
• Institutional Services: Fidelity Digital Assets provides custody and execution services for institutional clients, but not for individual retail traders.

Therefore, while you can trade crypto on Fidelity in a limited sense, the platform does not offer the same breadth of digital asset trading as specialized crypto exchanges.

Recent Developments and Industry Trends

As of June 2024, the crypto market continues to evolve rapidly. According to a Bloomberg report dated May 28, 2024, the total crypto market capitalization surpassed $2.6 trillion, with daily trading volumes exceeding $100 billion. Regulatory clarity in the U.S. has led to increased institutional adoption, with several asset managers, including Fidelity, filing for spot Bitcoin ETF approvals.

Fidelity's crypto services have expanded cautiously. In March 2024, Fidelity Digital Assets announced enhanced custody solutions and new partnerships with blockchain analytics firms to bolster security and compliance. However, direct retail crypto trading remains limited, reflecting ongoing regulatory scrutiny and risk management priorities.

Key Considerations and Alternatives for Crypto Investors

For users asking, "can you trade crypto on Fidelity," it's important to consider:

• Limited Asset Selection: Only Bitcoin and Ethereum are available for direct trading, and only in select states.
• No Advanced Trading Features: Fidelity does not offer spot trading, margin, or derivatives for crypto assets.
• Regulatory Compliance: Fidelity prioritizes compliance, which may limit access to certain crypto products compared to dedicated crypto exchanges.

If you seek a broader range of cryptocurrencies, advanced trading tools, or DeFi participation, consider using a specialized platform like Bitget. Bitget offers a wide selection of digital assets, robust security features, and user-friendly interfaces suitable for both beginners and experienced traders. For secure asset management, Bitget Wallet provides a reliable Web3 wallet solution.

Common Misconceptions and Security Tips

Many users assume that all major brokerages offer full crypto trading. In reality, platforms like Fidelity restrict direct crypto access due to regulatory and risk considerations. Always verify the latest service terms before initiating trades.

Security remains paramount. According to Chainalysis' 2024 Crypto Crime Report, over $1.7 billion was lost to hacks and scams in the first half of 2024. Choose platforms with strong security records and enable two-factor authentication to protect your assets.

Explore More Secure Crypto Trading Options

While you can trade crypto on Fidelity in a limited capacity, the platform's offerings are not as comprehensive as dedicated crypto exchanges. For a wider selection of assets, advanced trading features, and enhanced security, explore Bitget's trading platform and Bitget Wallet. Stay informed about the latest industry updates to make confident and secure investment decisions.