LTC Outlook Brightens as Fidelity Introduces Crypto IRA Options

Fidelity Investments, a global leader in investment management, has made a groundbreaking move by introducing Crypto Individual Retirement Accounts (IRAs), signaling a significant shift towards crypto integration in retirement planning.

Fidelity Launches Crypto IRA for Retirement Portfolios

Fidelity Investments, the third largest investment manager in the world with $7 trillion in assets, has announced a new Crypto Individual Retirement Account (IRA). The move signifies a major shift in the retirement industry. The company, based in Boston, discreetly announced on its website the release of three different accounts: a traditional IRA, a rollover IRA, and a Roth IRA. These accounts allow clients to buy and sell Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). The traditional IRA uses deferred tax, while the Roth IRA charges a tax on the deposit, enabling tax-free withdrawals after retirement. There are no fees for opening or maintaining the accounts.

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Fidelity To Allow Investments In Crypto via IRA

Fidelity Investments has announced the launch of three major zero-fee retirement plans that will allow US-based investors exposure to Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). Fidelity clients can invest in these assets via individual retirement accounts. The service is available to US citizens who reside in states where Fidelity Digital Assets supports crypto individual retirement arrangements (IRAs). The firm launched the new service on Wednesday, allowing investors to access the three major cryptocurrencies by opening a crypto IRA in areas where the asset manager offers its crypto trading service.