Fidelity Crypto

Fidelity Cryptocurrency Buying (2022)

Fidelity crypto trading account. Can you buy blockchain fund, Ripple, Stellar, Shiba Inu, Cardano, Dogecoin, Ethereum (ETH), Litecoin (LTC), alt coins cryptocurrencies on Fidelity Investments?

How to Trade Cryptocurrency at Fidelity

Investing in cryptocurrency is possible through both Fidelity and Webull. Between both brokers, there are a number of different ways to invest in crypto. Let’s explore all the ways to capitalize on this exciting new asset class.

Investing in Crypto with Fidelity

For institutional investors with Fidelity, you can utilize Fidelity Digital Assets - a division of Fidelity that provides custody and execution services for crypto investing. However, unfortunately, Fidelity doesn’t currently offer the ability for retail investors to buy cryptocurrency directly. The good news is that there are other ways for retail investors to invest in the crypto markets through Fidelity.

Cryptocurrency Mutual Funds with Fidelity

Fidelity offers you the ability to invest in cryptocurrency mutual funds. For Canadian investors only, Fidelity Canada launched a Bitcoin mutual fund called Fidelity Advantage Bitcoin ETF Fund late in 2021. Due to the fund being so new, there is currently no performance data available, but the fund’s strategy states that it invests in an underlying fund that focuses only on Bitcoin.

For US investors, there are currently only a few cryptocurrency mutual funds available for investment. One is the Bitcoin Strategy ProFund Investor Class, symbol BTCFX, which is available for retail investors starting with a minimum investment of $2,500. You can buy BTCFX at no cost through Fidelity.

The other is Cboe Vest Bitcoin Strategy Managed Volatility Fund Institutional Class Shares, symbol BTCVX, which is only available through Fidelity for institutional investors.

Investing in Cryptocurrency ETFs with Fidelity

Even though there are virtually no options for investing in cryptocurrency mutual funds at this time, there is a plentiful amount of cryptocurrency ETFs available through Fidelity. The launch of the first-ever cryptocurrency-based ETF, symbol BITO, happened in October 2021. Since then, there have been a few dozen more that have launched and there are even more waiting in line for approval.

How to Find Cryptocurrency ETFs on Fidelity

Fidelity crypto ETF

As you can see in the screenshot above, just searching for “cryptocurrency ETFs” on Fidelity’s website only yields links about cryptocurrency general information. Fidelity does have a feature on their website called the ETF Research Center but, this feature is, unfortunately, not helpful either when it comes to finding cryptocurrency ETFs.

Fidelity ETF Research Center

Hopefully, Fidelity will improve its ability to search and find cryptocurrency investments on its website. For right now, your best is not to use their website and instead just use a good old-fashioned Google search.

Types of Crypto ETFs on Fidelity

Similar to investing in gold or silver through ETFs, there are different types of crypto ETFs that give you varying degrees of exposure to the crypto markets. The Grayscale Ethereum Trust, symbol ETHE, and the Grayscale Bitcoin Trust, symbol GBTC, are trusts that hold Ethereum and Bitcoin.

A few other examples of crypto ETFs available through Fidelity are the symbols BKCH and BITW. The fund BKCH invests in companies that are focused on blockchain technology. The fund BITW aims to track the performance of what it considers to be the top 10 most highly valued cryptocurrencies. You can invest in all four of the mentioned funds commission-free through Fidelity.

Something to note is that ETHE, GBTC, and BITW are not technically ETFs, they are Unit Investment Trusts (UIT), but they trade and act similar to ETFs.

Investing in Cryptocurrency with Webull

Webull currently offers trading directly in many cryptocurrencies including Bitcoin, Ethereum, Dogecoin, and Solana:

  • Aave (AAVE)
  • Algorand (ALGO)
  • Apecoin (APE)
  • Avalanche (AVA)
  • BAT (BAT)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Chainlink (LINK)
  • Chiliz (CHZ)
  • Cosmos (ATOM)
  • Coin (CRO)
  • Curve DAO (CRV)
  • Dash (DASH)
  • Decentraland (MANA)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Dogecoin (DOGE)
  • Fantom (FTM)
  • Gala (GALA)
  • Litecoin (LTC)
  • Loopring (LRC)
  • Maker (MKR)
  • Polygon (MATIC)
  • REN (REN)
  • Solana (SOL)
  • Stella Lumens (XLM)
  • Sushi (SUSH)
  • Stella Lumens (XLM)
  • Terra (LUNA)
  • Tezos(XTZ)
  • The Graph (GRT)
  • UNI (UNI)
  • USD Coin (USDC)
  • XLM (XLM)
  • (YFI)
  • Zcash (ZEC)

Webull has a very user-friendly crypto trading platform with many nice features for crypto investors.

Webull Promotion

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Benefits of Crypto Investing with Webull

Webull provides real-time streaming quotes for crypto at no cost. The crypto charting feature on the app is easily one of the best available in the crypto trading industry. On a chart, you can view a huge range of timeframes, you can add many different indicators, and you can choose from eight different types of lines.

Fidelity Bitcoin

Webull makes it extremely simple and straightforward to execute crypto transactions on their app. They allow trading 23 hours a day, 7 days a week with 1 hour of unavailability per day to perform maintenance and reconciliation.

Webull Crypto Fees

Webull doesn’t technically charge you any fees or commissions for trading crypto however, they charge a 100 basis point spread on every trade. Ultimately with the spread, you will be paying 1% more than the crypto price on every purchase and receiving 1% less than the crypto price on every sale.

Learn more about Webull cryptocurrencies trading.

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Investing in Cryptocurrency Stocks with Fidelity

Fidelity Crypto Stocks

Similar to searching for crypto ETFs on Fidelity, searching for crypto stocks on Fidelity is not currently a viable option either. As you can see from the screenshot above, trying to search for the category of crypto in Fidelity’s “Stock Screener” tool doesn’t produce any results.

The good news is that once you find your crypto stock of choice on your own, you can most likely invest in the stock through Fidelity commission-free. Two examples of crypto stocks you can trade are Coinbase and RIOT Blockchain. Coinbase, symbol COIN, is one of the largest and most trusted cryptocurrency exchanges in the United States. RIOT Blockchain, symbol RIOT, is a massive Bitcoin mining company with over 30,000 miners in operation.

Fidelity Cryptocurrency Conclusion

Cryptocurrency is still a relatively new asset class. There will be more and more ways to invest in crypto in the future. For now, just between Fidelity and Webull, there are definitely sufficient options available for anyone looking to either invest or trade cryptocurrency.

Updated on 4/23/2022.

About the Author
Paul Johnson is a Licensed Stockbroker with 7+ years of experience in the financial services industry. Paul enjoys teaching about investing and writing about financial topics. He is a husband and father of twin boys.