Fidelity Crypto adds Solana support, extending its lineup beyond Bitcoin, Ethereum and Litecoin
Quick Take Fidelity Crypto has added support for Solana, offering millions of its retail customers access to the cryptocurrency for the first time. Before Oct. 23, only Bitcoin, Ethereum, and Litecoin were supported.
Fidelity Digital Assets extended buy, sell, and trading support for Solana across its crypto platforms on Thursday, including Fidelity Crypto for retail investors, as well as Fidelity Crypto for IRAs, Fidelity Crypto for Wealth Managers, and its institutional trading platform, according to a person familiar with the matter.
Fidelity Crypto quietly went live in March 2023, giving millions of its U.S. users access to Bitcoin and Ethereum investments, and later adding Litecoin support. Crypto transactions on the app are commission-free, though Fidelity Digital Assets collects a spread of up to 1%.
Fidelity Crypto is open to new and existing customers, while first-time customers must create a Fidelity Brokerage account during the setup process. The service is not available in all states.
Fidelity's crypto focus
Fidelity Digital Assets' parent firm, Fidelity Investments, has been active in the crypto space far longer than many of its traditional asset-management peers, having operated as an early bitcoin miner and published frequent research on digital assets.
In January 2024, Fidelity Investments became one of the inaugural issuers of spot Bitcoin exchange-traded funds in the U.S., later launching an Ethereum ETF that July. The two funds have since accumulated roughly $22 billion and $3 billion in assets under management, respectively, according to The Block's ETF tracker page .
"The addition of Solana is a continuation of Fidelity's decade-plus effort to develop the infrastructure, products and educational resources for digital assets consistent with the solutions we provide for traditional asset classes," a Fidelity spokesperson told The Block.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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