What Crypto Can You Buy on Fidelity: Updated Guide

For investors interested in digital assets, understanding what crypto can you buy on Fidelity is crucial. This guide provides a clear overview of Fidelity's current cryptocurrency offerings, recent updates, and what users can expect when accessing crypto through this established financial platform.

Fidelity's Crypto Offerings: Current Status and Supported Assets

As of June 2024, Fidelity Investments allows eligible U.S. retail customers to buy and sell select cryptocurrencies through its Fidelity Crypto platform. According to a Fidelity official update on May 15, 2024, the platform currently supports Bitcoin (BTC) and Ethereum (ETH) for direct trading. These two assets represent the largest cryptocurrencies by market capitalization, with Bitcoin's daily trading volume exceeding $25 billion and Ethereum's at around $12 billion (source: CoinGecko, June 2024).

Fidelity does not currently offer a broader range of altcoins or stablecoins for direct purchase. The focus remains on these two leading assets, reflecting both regulatory clarity and institutional demand. Users can access these cryptocurrencies via the Fidelity Crypto app, which integrates with Fidelity's brokerage services for a seamless experience.

Industry Trends: Why Fidelity Limits Crypto Choices

The question of what crypto can you buy on Fidelity is shaped by regulatory and security considerations. U.S. financial regulators, including the SEC, have emphasized the need for investor protection and compliance. As a result, major financial institutions like Fidelity prioritize assets with established track records and regulatory clarity.

According to a Bloomberg report dated April 30, 2024, Fidelity's cautious approach aligns with broader industry trends, where traditional finance platforms are slow to add new cryptocurrencies due to concerns over volatility, security, and compliance. This ensures that users benefit from robust custody solutions and transparent pricing, but it also means fewer choices compared to specialized crypto exchanges.

User Considerations: Fees, Security, and Platform Experience

When evaluating what crypto can you buy on Fidelity, users should consider the platform's fee structure and security protocols. Fidelity charges a 1% spread on crypto transactions, which is competitive with other regulated platforms. All assets are held in institutional-grade custody, with insurance coverage against certain types of loss (source: Fidelity Crypto FAQ, June 2024).

Fidelity does not currently support crypto withdrawals to external wallets, meaning users cannot transfer Bitcoin or Ethereum out of the platform. This limitation is important for those seeking full control over their digital assets or wishing to participate in decentralized finance (DeFi) activities. For users interested in broader crypto functionality, exploring dedicated crypto exchanges or wallets like Bitget Wallet may offer more flexibility and asset variety.

Recent Developments and Market Impact

Fidelity has expanded its crypto-related services for institutional clients, including the launch of spot Bitcoin ETFs in January 2024. According to Reuters (January 11, 2024), the Fidelity Wise Origin Bitcoin Fund (FBTC) attracted over $500 million in assets within its first week, highlighting strong institutional demand.

However, for retail users, the direct purchase options remain limited to Bitcoin and Ethereum. There are no official announcements regarding the addition of new cryptocurrencies as of June 2024. Users are encouraged to monitor Fidelity's official channels for updates on supported assets and platform enhancements.

Common Misconceptions and Risk Reminders

Some users believe that Fidelity offers a wide range of cryptocurrencies or supports decentralized applications. In reality, the platform's offerings are intentionally limited to ensure compliance and security. Crypto investments carry risks, including price volatility and regulatory changes. Always review the latest platform disclosures and consider your risk tolerance before trading.

Explore More Secure and Flexible Crypto Solutions

While Fidelity provides a regulated entry point for Bitcoin and Ethereum, users seeking a broader selection of cryptocurrencies, advanced trading features, or self-custody options may benefit from exploring platforms like Bitget. Bitget offers a wide range of digital assets, robust security, and user-friendly tools for both beginners and experienced traders. For secure storage and DeFi access, Bitget Wallet is recommended.

Stay informed about the latest crypto developments and make confident decisions by leveraging trusted platforms and up-to-date market data. For more insights and practical guides, continue exploring Bitget Wiki.