Fidelity Crypto is the retail-facing platform that lets individual investors buy and sell Bitcoin and Ethereum directly through their Fidelity account. It launched after a waitlist period in late 2022 and became broadly available in 2023. The service is integrated into the same ecosystem people already use for stocks, ETFs, and retirement accounts, which is a big part of its appeal — everything lives in one place.
A few basics worth knowing up front:
- You can buy fractional amounts, with a minimum of around $1.
- Only two cryptocurrencies are supported: Bitcoin and Ethereum.
- Trading is done through the Fidelity app or website, alongside your other investments.
- Custody is handled by Fidelity Digital Assets, the institutional arm the company launched back in 2018 to serve hedge funds, advisors, and other large clients.
It's also worth noting that availability varies by state. Some jurisdictions — New York being the most prominent example — were not included when the platform rolled out. If you live in a state where it isn't offered, Fidelity's crypto ETFs remain an alternative route.
What You Can Buy (and What You Can't)
This is where many people get surprised. Fidelity Crypto supports Bitcoin and Ethereum only. There's no Dogecoin, no Solana, no hundreds of altcoins like you'd find on Coinbase or Kraken.
For some investors, that limitation is actually a feature. Bitcoin and Ethereum are the two largest cryptocurrencies by market value and have the longest track records, the deepest liquidity, and the most regulatory clarity of anything in the space. If your goal is simple exposure to crypto rather than chasing smaller projects, two options may be all you need.
If you want broader exposure to altcoins, you'll need a dedicated crypto exchange — and you should be aware that those platforms come with different fee structures, custody arrangements, and regulatory considerations than a traditional brokerage.
Fees: The Zero-Commission Catch
Fidelity Crypto advertises commission-free trading, which is genuinely unusual in the crypto world. But "zero fees" doesn't mean zero cost. The platform makes money through the spread — the difference between the buy and sell price of the asset. Spreads on crypto tend to be wider than spreads on stocks, especially during volatile periods, and the effective cost can add up if you trade frequently.
For someone buying and holding, the total cost is often modest compared to the percentage-based fees on many crypto exchanges. For someone trading in and out often, spreads can become a real expense. The honest takeaway: it's competitive for long-term buyers, less obviously cheap for active traders. Compare the actual execution prices against other platforms if trading costs are your top priority.
How to Get Started
Opening up crypto on Fidelity is straightforward if you already have a relationship with the firm:
- Log in to your Fidelity account through the app or website.
- Look for the Crypto section — new users typically need to opt in or join a waitlist depending on their state.
- You'll confirm your identity and eligibility, similar to enabling options or margin trading.
- Once approved, you can place buy or sell orders for Bitcoin or Ethereum in dollar amounts as small as $1.
Orders are dollar-based, so you can say "buy $50 of Bitcoin" rather than calculating fractional amounts yourself. Your crypto holdings appear alongside the rest of your Fidelity portfolio, which makes tracking your overall net worth simpler.
Custody and Security: Where Your Crypto Actually Sits
When you buy crypto through Fidelity Crypto, your assets are held in custody with Fidelity Digital Assets. This matters for a few reasons.
First, you're not responsible for managing private keys or a crypto wallet. That removes a major source of risk for beginners — losing keys means losing funds permanently — but it also means you're relying on Fidelity the same way you rely on it to hold your stocks.
Second, Fidelity is a company with decades of experience in asset custody and a strong reputation to protect. That's not a guarantee against loss, and crypto held on any platform carries platform risk, but the operational standards are generally considered a step up from smaller exchanges.
Third, and this is important: historically, Fidelity Crypto did not allow you to transfer your crypto off the platform to an external wallet, though the company has been working to expand transfer capabilities over time. If self-custody is important to you — the "not your keys, not your coins" philosophy — Fidelity Crypto may not fit that approach. Check the platform's current transfer functionality before assuming you'll be able to move assets on-chain.
The ETF Alternative: FBTC and FETH
If direct crypto ownership isn't a priority, Fidelity also offers spot cryptocurrency exchange-traded funds: the Fidelity Wise Origin Bitcoin Fund (ticker FBTC) and its Ethereum equivalent (FETH). These launched in January 2024 and July 2024 respectively, after regulatory approval opened the door to spot crypto ETFs in the U.S.
The practical differences from Fidelity Crypto:
- ETFs trade in a standard brokerage account, including IRAs, which direct crypto purchases generally can't access.
- They charge an expense ratio (0.25% for both funds) instead of relying primarily on spreads.
- They can be held in tax-advantaged accounts, which is a meaningful advantage for long-term investors.
- You don't own the underlying crypto — you own shares of a fund that holds it.
For retirement savers, the ETF route is often the only practical one. Fidelity Crypto purchases can't go into an IRA, but FBTC or FETH can, subject to your account's rules.
Crypto in 401(k) Plans
Fidelity made headlines in 2022 by announcing it would allow employers to offer Bitcoin as an investment option within 401(k) plans, with exposure capped at 20% of a participant's balance. Adoption depends entirely on whether your employer chooses to offer it — most haven't — but it signaled how seriously Fidelity is treating digital assets as a long-term part of its business. If you're curious, ask your plan administrator whether crypto exposure is available through your workplace plan.
Fidelity Digital Assets: The Institutional Side
Behind the retail offering sits Fidelity Digital Assets, which has provided institutional custody and trade execution since 2018. It serves investment advisors, hedge funds, family offices, and corporations. You can't sign up for it as an individual, but its existence benefits retail customers indirectly — it's the custody infrastructure backing Fidelity Crypto and the firm's ETFs.
How It Compares to Coinbase and Other Exchanges
A quick, honest comparison:
- Coin selection: Dedicated exchanges win easily. Coinbase lists hundreds of assets; Fidelity lists two.
- Fees: Fidelity's spread model is competitive for buy-and-hold investors; active traders may find exchange fee schedules more predictable.
- Trust and integration: Fidelity has the edge for people who want crypto inside an existing, regulated brokerage relationship.
- Transfers and self-custody: Exchanges vary; historically, Fidelity has been more restrictive, though this is evolving.
- Account types: If you want crypto exposure in an IRA or retirement account, ETFs like FBTC are the path, not direct crypto purchases.
There's no single "best" answer. A conservative investor who wants $5,000 of Bitcoin next to their 401(k) will likely be happier with Fidelity. A crypto enthusiast exploring DeFi tokens will need an exchange.
Things to Consider Before You Buy
Cryptocurrency remains a volatile, speculative asset class. Prices can swing 10% or more in a day, and extended drawdowns are common. Before allocating money through Fidelity Crypto or any other platform, a few principles are worth keeping in mind:
- Only invest money you can afford to lose without affecting your financial stability.
- Treat crypto as a small slice of a diversified portfolio rather than a core holding, unless you deeply understand the asset class.
- Understand the tax implications — selling crypto, even through a brokerage, is generally a taxable event.
- Avoid investing based on hype cycles or short-term price movements.
Fidelity's entry into crypto lowers the barrier to entry, and that's a double-edged sword: it's easier than ever to buy, which makes it easier than ever to buy impulsively.
The Bottom Line
Fidelity Crypto gives everyday investors a regulated, familiar, low-friction way to buy Bitcoin and Ethereum alongside their traditional investments, with no commissions and custody handled by one of the most established names in finance. Its limitations — two coins, state availability, and restricted transfers — won't matter to long-term investors focused on the largest cryptocurrencies, but they will matter to anyone wanting a full-featured crypto platform.
For retirement accounts, Fidelity's spot Bitcoin and Ethereum ETFs fill that gap, offering exposure inside IRAs and other tax-advantaged accounts. Between the retail platform, the ETFs, and the institutional custody business, Fidelity now covers most of the crypto spectrum. The right entry point depends on what you own, where you live, and how much complexity you want — but for a first, cautious step into Bitcoin or Ethereum, it's a legitimate and increasingly popular one.