Crypto investing is now easier than ever

Direct ownership of cryptocurrency (“spot crypto”) means that the investor owns the actual assets and is individually responsible for the secure custody of their cryptocurrency via a wallet or third-party custodian. In doing so, the investor may have access to 24/7 trading and can move assets via the blockchain network. The fees paid on transactions are defined by the individual exchanges, typically based on the size of the transaction, demand for block space, and the exchange's fee model.

Spot crypto ETPs provide indirect exposure to the price of cryptocurrencies through an investment product available on a traditional stock market exchange. ETPs can be held in tax-advantaged accounts, and capital gains will be recorded alongside traditional brokerage tax reporting. FETH and FBTC operate like other exchange-traded products, trading during stock market hours with fees charged as part of the fund's expense ratio.

For more information, view our article about gaining exposure to bitcoin through a spot crypto exchange-traded product.

All ETFs are part of a broader category called exchange-traded products (ETPs), which are listed on an exchange and can be bought and sold during market hours like a stock. ETFs, the most common type of ETP, are governed by the Investment Company Act of 1940 and are pooled investment opportunities that typically include baskets of stocks, bonds, and other asset groups based on fund objectives. Fidelity’s spot crypto ETPs are similar to ETFs in that they trade on an exchange, however, FBTC and FETH are ETPs that hold 100% cryptocurrencies and do not invest in securities; therefore, they are not subject to the Investment Company Act of 1940.

Yes. With Fidelity Crypto^®, you can trade and secure crypto like bitcoin and ethereum directly with as little as $1. By owning crypto like bitcoin or ethereum directly, you can trade your crypto through your Fidelity Crypto^® account 7 days a week, 23 hours a day. You'll get institution-level security and services that Fidelity Digital Assets^℠ has offered since 2018. You can also grow your crypto knowledge with news, articles, podcasts, and webinars, and dive deeper with on-demand education. Fidelity Crypto^® is offered by Fidelity Digital Assets^℠. Direct trading of crypto can only take place in a Fidelity Crypto^® account and is not available in brokerage accounts. Fidelity Crypto^® is not available in every state.

Fidelity’s spot crypto ETPs provide investors with the opportunity to gain indirect exposure to the performance of bitcoin or ether in their brokerage accounts. FBTC and FETH are exchange-traded products and can be bought through brokerage, trust, and tax-advantaged accounts. Custody of the cryptocurrency held by the funds is provided by Fidelity Digital Asset Services, LLC. FBTC and FETH cannot be purchased through a Fidelity Crypto^® account.

Learn more about spot bitcoin ETPs.

At this time, exchange-traded products (ETPs) are not available as a designated investment option within a 401(k) plan. If a plan already offers Self-Directed Brokerage (SDB) and allows ETPs as an investment option within their brokerage window, FBTC, FETH, and other spot crypto exchange-traded products may be eligible for investment.

Placing an order for the Fidelity^® Wise Origin^® Bitcoin Fund, the Fidelity^® Ethereum Fund, and similar spot crypto ETP products requires investors to execute Fidelity's Designated Investments Agreement (DIA). Fidelity requires the DIA on certain complex and risky products. Investors should only invest in investment products that align with their investment objectives, time horizon, and tolerance for risk.

Investors who have not previously agreed to the DIA for their account will be prompted to review the agreement on Fidelity.com after entering trade details. Investors using the Fidelity app will be redirected to a browser to complete this step.

Additionally, Fidelity requires the investment objective of the account that will hold the share of a spot crypto ETP to have an investment objective of "Most Aggressive." Investors will be prompted to select their investment objective for their Fidelity account. If the investor agrees with that objective, they can then proceed to place an order.

No. Investors are not able to exchange their shares of a spot crypto ETP for the underlying cryptocurrency. These in-kind creation and redemption amendments permits Authorized Participants, who create and redeem shares of funds, to transact in cash or in-kind.

Crypto staking is the process blockchain networks like Ethereum and other cryptocurrencies use to validate transactions on the blockchain in exchange for a reward. Both staking and crypto mining are ways to validate transactions on blockchains.

Crypto staking relies on the proof-of-stake (PoS) consensus mechanism, which means one person is randomly chosen from a pool of willing participants.

For spot crypto ETPs, in-kind create/redeem is a process where Authorized Participants (large institutions that create or redeem shares of an ETP) exchange shares directly for the cryptocurrency instead of cash in the create or redeem process, potentially helping to maintain price alignment between the cryptocurrency and the fund shares. Fidelity's spot crypto ETPs are now permitted to create or redeem shares in kind or for cash with Authorized Participants.

The Fidelity^® Wise Origin^® Bitcoin Fund (FBTC) is an exchange-traded product that seeks to track the performance of bitcoin. FBTC provides investors with the opportunity to gain exposure to the price of bitcoin in a familiar investment structure that passively invests in bitcoin. As an exchange-traded product, investors can purchase the fund through multiple account types, including brokerage, trust, and tax-advantaged accounts.

Fidelity is not recommending or endorsing this fund or any allocation to this fund. Before investing in FBTC, investors should consider their time horizon, tolerance for risk, and personal financial situation. Learn more in our article that discusses 3 keys to choosing investments.

Bitcoin, and products that track its performance, historically experienced heightened volatility compared to traditional equities. You can learn more about the cryptocurrency through insights from Fidelity.

Fidelity Investments is charging an expense ratio of 25 basis points, as of August 1, 2024.

No. The fund seeks to track the performance of bitcoin passively, as measured by the performance of the Fidelity Bitcoin Reference Rate. FBTC holds 100% bitcoin.

The bitcoin in the Fidelity^® Wise Origin^® Bitcoin Fund are custodied by Fidelity Digital Asset Services, LLC. Fidelity Digital Assets℠ provides an enterprise-grade custody solution for securing digital assets, featuring extensive operational, cyber, and physical controls.

Investors will not be issued dividends.

Volatility. Gaining exposure to the performance of bitcoin does not shield investors from bitcoin's volatility, which has been substantial at times throughout its history. Unlike many other ETFs and ETPs, which diversify their risk across several stocks or commodities within a specific sector, spot bitcoin ETP holdings are concentrated only in bitcoin.

Trading hours. Spot bitcoin ETPs can only be bought or sold during traditional market hours. Bitcoin trades 24/7 and has made significant double-digit moves on weekends. An ETP investor will have to wait until the market opens to enter or exit positions.

Tracking errors. Like other ETPs, spot bitcoin ETPs may not always exactly reflect the price of bitcoin as a result of management fees and rebalancing costs and delays.

As with any investment, investors should consider their investment objectives, time horizon, tolerance for risk, and personal financial situation. Learn more about the pros and cons of spot bitcoin ETPs.

Placing an order for the Fidelity^® Wise Origin^® Bitcoin Fund and similar spot bitcoin ETP products requires investors to execute Fidelity's Designated Investments Agreement (DIA). Fidelity requires the DIA on certain complex and risky products. Investors should only invest in investment products that align with their investment objectives, time horizon, and tolerance for risk.

Investors who have not previously agreed to the DIA for their account will be prompted to review the agreement on Fidelity.com after entering trade details. Investors using the Fidelity app will be redirected to a browser to complete this step.

Additionally, Fidelity requires the investment objective of the account that will hold the FBTC shares to have an investment objective of "Most Aggressive." Investors will be prompted to select their investment objective for their Fidelity account. If the investor agrees with that objective, they can then proceed to place an order.

Because FBTC holds 100% bitcoin, the fund’s net asset value (NAV) will generally reflect the price changes of spot bitcoin (the underlying asset) as measured by the performance of the Fidelity Bitcoin Reference Rate index. The NAV is struck at 4 p.m. ET on weekdays. Like other ETPs, spot bitcoin ETPs may not always exactly reflect the price of bitcoin because of fees and rebalancing costs and delays. The performance of FBTC will not reflect the specific return an investor would realize if the investor purchased bitcoin directly.

At this time, exchange-traded products (ETPs) are not available as a designated investment option within a 401(k) plan. If a plan already offers Self-Directed Brokerage (SDB) and allows ETPs as an investment option within their brokerage window, FBTC and other spot bitcoin exchange-traded products may be eligible for investment.

The Fidelity^® Ethereum Fund (FETH) is an exchange-traded product that seeks to track the performance of ether. FETH provides investors with the opportunity to gain exposure to the price of ether in a familiar investment structure that passively invests in ether. As an exchange-traded product, investors can purchase the fund through multiple account types, including brokerage, trust, and tax-advantaged accounts like an IRA.

Fidelity is not recommending or endorsing this fund or any allocation to this fund. Before investing in FETH, investors should consider their time horizon, tolerance for risk, and personal financial situation. Learn more in our article that discusses 3 keys to choosing investments.

Ether, and products that track its performance, historically experienced heightened volatility compared to traditional equities. You can learn more about cryptocurrency through insights from Fidelity.

Fidelity Investments is charging an expense ratio of 25 basis points, as of January 1, 2025.

No. The fund seeks to track the performance of ether passively, as measured by the performance of the Fidelity Ethereum Reference Rate. FETH holds 100% ether.

The ether in the Fidelity^® Ethereum Fund are custodied by Fidelity Digital Asset Services, LLC. Fidelity Digital Assets^℠ provides an enterprise-grade custody solution for securing digital assets, featuring extensive operational, cyber, and physical controls.

No. No portion of the fund’s underlying ether will be staked. You can learn more about crypto staking with insights from Fidelity.

Investors will not be issued dividends.

Volatility. Gaining exposure to the performance of ether does not shield investors from ether’s volatility, which has been substantial at times throughout its history. Unlike many other ETFs and ETPs, which diversify their risk across several stocks or commodities within a specific sector, spot ether ETP holdings are concentrated only in ether.

Trading hours. Spot ether ETPs can only be bought or sold during traditional market hours. Cryptocurrencies trade 24/7 and have made significant double-digit moves on weekends. An ETP investor will have to wait until the market opens to enter or exit positions.

Tracking errors. Like other ETPs, spot ether ETPs may not always exactly reflect the price of ether as a result of management fees and rebalancing costs and delays.

Network Protocol and Governance. The Ethereum network protocol and future upgrades are informally facilitated by a collective of core developers who introduce Ethereum Improvement Protocols to update the network. There is no guarantee that these new protocols will positively affect the network or the value of ether. The network has been implementing a series of software upgrades and changes since 2022 (often referred to as “Ethereum 2.0”), which includes material updates to its source code. While the upgrades have historically been installed successfully, these upgrades result in new iterations of the Ethereum network, which may contain undiscovered flaws that could negatively impact the value of ether.

As with any investment, investors should consider their investment objectives, time horizon, tolerance for risk, and personal financial situation.

Placing an order for the Fidelity^® Wise Origin^® Bitcoin Fund, the Fidelity^® Ethereum Fund, and similar spot crypto ETP products requires investors to execute Fidelity's Designated Investments Agreement (DIA). Fidelity requires the DIA on certain complex and risky products. Investors should only invest in investment products that align with their investment objectives, time horizon, and tolerance for risk.

Investors who have not previously agreed to the DIA for their account will be prompted to review the agreement on Fidelity.com after entering trade details. Investors using the Fidelity app will be redirected to a browser to complete this step.

Additionally, Fidelity requires the investment objective of the account that will hold the share of a spot crypto ETP to have an investment objective of "Most Aggressive." Investors will be prompted to select their investment objective for their Fidelity account. If the investor agrees with that objective, they can then proceed to place an order.

Because FETH holds 100% ether, the fund’s net asset value (NAV) will generally reflect the price changes of spot ether (the underlying asset) as measured by the performance of the Fidelity Ethereum Reference Rate index. The NAV is struck at 4 p.m. ET on weekdays. Like other ETPs, spot ether ETPs may not always exactly reflect the price of ether because of fees and rebalancing costs and delays. The performance of FETH will not reflect the specific return an investor would realize if the investor purchased ether directly.

The Fidelity^® Solana Fund (FSOL) is an exchange-traded product that seeks to track the performance of SOL. FSOL provides investors with the opportunity to gain exposure to the price of SOL, the native token of the Solana blockchain, in a familiar investment structure that passively invests in SOL. As an exchange-traded product, investors can purchase the fund through multiple account types, including brokerage, trust, and tax-advantaged accounts like an IRA.

Staking is the process of pledging crypto assets as collateral to become a validator on a blockchain network, receiving rewards in return for contributing to the network’s security. Similar to miners in a proof-of-work network (e.g., Bitcoin), validators on a proof-of-stake network (e.g., Ethereum, Solana) validate and organize new transactions.

FSOL participates in staking activity and receives rewards, which are realized by investors though the NAV.

Yes, FSOL participates in staking activity and expects to receive staking rewards as a result. The rewards generated by staking are reinvested into FSOL to enhance performance. The potential additional income provided by staking is realized by the investor through the NAV price. Staking fees are deducted from the rewards before reinvestment.

Fidelity is waiving the fee on staking rewards generated by FSOL through May 18, 2026 on the first $1 billion in assets in the fund. A staking fee will apply to rewards generated by assets in the fund above $1 billion. Starting May 19, 2026, the fee on staking rewards will be 15%.

The amount of SOL the Trust earns from staking can vary significantly over time. Staking also involves risks, including the possibility of losing SOL. One such risk is called “slashing,” which can happen if the validators (third-party operators chosen by the Fund’s Sponsor) either make mistakes when validating transactions or go offline for too long. If slashing occurs, there’s no guarantee the Trust will be able to recover any of the affected SOL.

Additionally, the Solana network may set waiting periods, known as buffer periods, which can delay when staked assets are able to be unstaked and withdrawn. The Sponsor will seek to mitigate this risk to ensure the Trust has access to its assets when needed. However, this approach may mean that less than all of the Trust’s SOL is staked at any given time, which could reduce the amount of staking rewards earned.

Fidelity is not recommending or endorsing this fund or any allocation to this fund. Before investing in FSOL, investors should consider their time horizon, tolerance for risk, and personal financial situation. Learn more in our article that discusses 3 keys to choosing investments.

Solana, and products that track its performance, historically experienced heightened volatility compared to traditional equities. You can learn more about cryptocurrency through insights from Fidelity.

Fidelity is waiving the fee to invest in FSOL. Starting May 19, 2026, Fidelity will begin charging an expense ratio of 25 basis points.

No. The fund seeks to track the performance of SOL passively, as measured by the performance of the Fidelity SOL Reference Rate. FSOL holds 100% Solana.

Investors will not be issued dividends.

Volatility. Gaining exposure to the performance of SOL does not shield investors from SOL’s volatility, which has been substantial at times throughout its history. Unlike many other ETFs and ETPs, which diversify their risk across several stocks or commodities within a specific sector, spot SOL ETP holdings are concentrated in SOL. Smart contracts and DeFi applications are new technologies; their ongoing development and operation may result in problems, which could reduce the demand for SOL or cause a wider loss of confidence in the Solana network and adversely affect the value of SOL. This product is for investors with a high risk tolerance. It invests in a single asset, SOL, which is highly volatile and can become illiquid at any time.

Trading Hours. Spot crypto ETPs can only be bought or sold during traditional market hours. Cryptocurrencies trade 24/7 and have made significant double-digit moves on weekends. An ETP investor will have to wait until the market opens to enter or exit positions.

Tracking Errors. Like other ETPs, spot SOL ETPs may not always exactly reflect the price of SOL as a result of management fees and rebalancing costs and delays.

Network Protocol and Governance. The Solana network protocol and future upgrades are addressed and facilitated by a team of core engineers, with future plans to bring in validators and additional external developers and auditors to test and help update the network. The network has been working on significant upgrades since the notable release of the 1.14 network update in 2023. Historically, Solana has faced a few reliability concerns surrounding several outage incidents in 2022, most notably a 17-hour complete network shutdown that decreased investor confidence. Solana has also faced critiques for its limits to decentralization due to the Solana Foundation acting as its central point of control and having fewer validators, which then creates risks for relying too heavily on a smaller group of participants.

As with any investment, investors should consider their investment objectives, time horizon, tolerance for risk, and personal financial situation.

Placing an order for the Fidelity^® Wise Origin^® Bitcoin Fund, the Fidelity^® Ethereum Fund, the Fidelity^® Solana Fund, and similar spot crypto ETP products requires investors to execute Fidelity's Designated Investments Agreement (DIA). Fidelity requires the DIA on certain complex and risky products. Investors should only invest in investment products that align with their investment objectives, time horizon, and tolerance for risk.

Investors who have not previously agreed to the DIA for their account will be prompted to review the agreement on Fidelity.com after entering trade details.

Additionally, Fidelity requires the investment objective of the account that will hold the share of a spot crypto ETP to have an investment objective of "Most Aggressive." Investors will be prompted to select their investment objective for their Fidelity account. If the investor agrees with that objective, they can then proceed to place an order.

Because FSOL holds 100% Solana, the fund’s net asset value (NAV) will generally reflect the price changes of spot Solana (the underlying asset) as measured by the performance of the Fidelity Solana Reference Rate index. The NAV is struck at 4 p.m. ET on weekdays. Like other ETPs, spot Solana ETPs may not always exactly reflect the price of Solana because of fees and rebalancing costs and delays. The performance of FETH will not reflect the specific return an investor would realize if the investor purchased Solana directly.