Fidelity Investments, one of the world’s largest brokerage firms with $9.9 trillion in assets under administration, is launching Fidelity Crypto, a service that allows retail investors to trade bitcoin and ether commission-free. “A meaningful portion of Fidelity customers are already interested in and own crypto,” the firm said.

Fidelity Investments, one of the largest brokerages in the world, is launching a commission-free crypto trading service for retail investors. The firm serves about 40 million individual investors and had about $9.9 trillion in assets under administration as of June 30. The financial giant’s website explains:

The company opened an early access waitlist to users Thursday morning but did not provide an exact date of launch. The official Twitter account for Fidelity Investments wrote: “Get on the early-access list to trade bitcoin and ethereum and discover educational resources that make crypto a lot less cryptic.”

The crypto custodial and trading services will be provided by Fidelity Digital Assets, a subsidiary of Fidelity Investments.

Users will be able to trade with as little as $1. While trades with Fidelity Crypto will be commission-free, the company said it will factor in a 1% spread into every trade execution price.

Fidelity told CNBC Thursday:

Fidelity Digital Assets has been offering bitcoin (BTC) services to institutional investors since 2018. The firm recently added ether (ETH) trading.

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