Are digital currencies covered by SIPCs at Fidelity?

3 answers

• May 01, 2022 · 3 years ago
  No, digital currencies are not covered by SIPCs at Fidelity. The SIPC only provides protection for cash and securities held by customers of brokerage firms in the event of the firm's failure. Since digital currencies are not considered cash or securities, they do not fall under the SIPC's coverage.
  299

  150
• May 01, 2022 · 3 years ago
  Unfortunately, digital currencies like Bitcoin and Ethereum are not covered by SIPCs at Fidelity. The SIPC's coverage is limited to cash and securities, and digital currencies do not fall into either category. It's important to keep this in mind when considering the risks associated with investing in digital currencies.
  321

  107
• May 01, 2022 · 3 years ago
  While Fidelity offers a range of investment options, including digital currencies, it's important to note that SIPCs do not cover digital currencies. The SIPC's coverage is limited to cash and securities, and digital currencies are not considered securities. Therefore, it's crucial to understand the risks involved when investing in digital currencies.
  353

  89