🚨 Crypto Meets Golden Years: Fidelity’s Bold Move! 🚨

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In a dash of brilliance, Fidelity Investments has unveiled a trio of zero-fee retirement plans that will permit US-based investors to dabble in the whimsical world of cryptocurrencies – specifically, Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) – all from the comfort of their individual retirement accounts. Because, why not invest in something as unpredictable as the future while planning for the golden years? 😊

Fidelity clients, residing in states where Fidelity Digital Assets indulges in crypto individual retirement arrangements (IRAs), can now merrily invest in these assets. A simple crypto IRA opening is all it takes, and voilà! You’re cryptocurrency-ing your way to retirement.

Fidelity Launches Zero-Fee Retirement Plans: Because Who Doesn’t Love Free? 🤑

Wednesday marked the grand debut of this service, offering exposure to the aforementioned cryptocurrencies. Investors in supported areas merely need to open a crypto IRA to access this service, with Fidelity graciously offering to custody the assets. How thoughtful of them!

For the uninitiated, BTC is the big cheese with a market cap of $1.7 trillion, ETH is the trusty sidekick with $228 billion, and LTC, the plucky upstart, boasts $6.4 billion. All three have been around since the crypto industry’s salad days, proving that even in crypto, age is just a number… or a block, rather. 📈

Plan Details: The Fine Print (But Not Too Fine, We Promise) 📜

Fidelity’s offering a trifecta of plans:
1. Tax-Free Roth IRA: Save for retirement with money you’ve already been taxed on. Silver linings, anyone?
2. Traditional IRA: The classic choice for tax-deferred growth. Because who doesn’t love a good deferred dream?
3. Rollover IRA: Transfer funds from a previous employer’s plan, like a 401(k) or 403(b), into an IRA. It’s like a crypto retirement home for your funds.

To partake, you’ll need a Fidelity brokerage IRA with the same registration type. No worries if you don’t have one; Fidelity will kindly set it up for you when you create your crypto IRA. Transferring funds and executing trades? Seamless, old chap!

Fee Details: The Not-So-Fine Print 🤑

The good news: no fees for opening or maintaining your Fidelity crypto IRA and its associated custody services. The slightly less good news: a 1% spread on buy and sell orders. Think of it as a tiny toll on the crypto highway. 🚗

Fidelity’s Crypto Adventures: A Brief History 📚

Fidelity’s been dipping its toes in crypto waters for years. From backing EDX Markets to launching a Bitcoin ETF (Fidelity Wise Origin Bitcoin Fund, with a whopping $11 billion in net inflows) and an Ethereum ETF (with over $1.4 billion in net inflows), they’re not strangers to the crypto ball. 🎉

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2025-04-04 19:13