Bitcoin Magazine
Fidelity Crypto Finally Allows Users to Send and Receive Bitcoin as UK ETP Gains Regulatory Approval
Fidelity Crypto now allows customers to withdraw Bitcoin and other crypto to external wallets, over 2 years after launching its retail platform.
This move gives users full self‑custody control while bridging traditional brokerage services and permissionless wallets.
Fidelity also took a major step toward mainstream crypto adoption by making its Physical Bitcoin ETP — launched in February 2022 and now listed on multiple European exchanges—available to UK retail clients for the first time after the FCA lifted the ban on retail crypto ETPs.
The firm’s Fidelity Physical Bitcoin ETP becomes the first crypto asset available to Fidelity’s advised platform clients from today, with additional products planned in the coming weeks.
The move comes after the UK’s Financial Conduct Authority (FCA) relaxed its stance on cryptocurrency, lifting its ban on crypto exchange-traded products (ETPs) for retail investors on 8 October.
The regulatory shift opens the door for established asset managers like Fidelity, BlackRock, and WisdomTree to offer crypto exposure to a broader audience through regulated channels.
In mid October, BlackRock listed its iShares Bitcoin Exchange-Traded Product (ETP), ticker IB1T, on the London Stock Exchange. The ETP is fully physically backed, with all Bitcoin held securely through Coinbase custody.
Processional-grade Bitcoin access
Dennis Pellerito, head of UK wholesale at Fidelity International, highlighted the significance for retail investors: “Until now, many retail investors have been limited to less secure, unregulated channels or indirect exposures such as proxy stocks. We are pleased to offer our institutional-grade ETP to retail investors for the first time.”
He emphasized that the ETP provides high-quality, professional-grade access to Bitcoin in a simple and secure format.
The Fidelity Physical Bitcoin ETP, originally launched in February 2022 and listed on the Deutsche Börse Xetra, SIX Swiss Exchange, and London Stock Exchange, tracks the price movement of Bitcoin and is designed to be both cost-effective and convenient.
Fidelity recently reduced the ongoing charges figure (OCF) to 0.25%, reflecting the firm’s focus on making institutional-grade products more accessible to retail clients.
Fidelity International said additional crypto assets may be added over time, subject to standard due diligence and client demand, and that it continues to explore ways to broaden access to crypto for consumers.
The firm still encouraged investors to conduct thorough research before entering the digital asset space, including cryptocurrencies like Bitcoin or any other asset.
This post Fidelity Crypto Finally Allows Users to Send and Receive Bitcoin as UK ETP Gains Regulatory Approval first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
Source: https://bitcoinmagazine.com/business/fidelity-allows-users-to-send-bitcoin
