Fidelity Now Allows Customers to Invest in Bitcoin, Ethereum for Retirement

Fund manager Fidelity enables its customers to invest in Bitcoin” Ethereum And Litecoin Through individual pension accounts.

From Wednesday, investors have been exposed to three virtual coins, which Fidelity already offers through his crypto trading service, by opening a “crypto IRA”.

Decrypt reached for Fidelity for comment.

The company, the largest provider of the US of 401 (K) savings accounts, will come up with the assets of custody of the new service in the Venste.

Bitcoin is the largest cryptocurrency, with a market capitalization of $ 1.7 trillion. Ethereum, the second largest virtual currency, has a market capitalization of $ 228 billion.

Litecoin, who originally wanted to be a faster, cheaper version of Bitcoin, is number 23 on the list, with a market capitalization of $ 6.4 billion. BTC had recently risen around 1.3% in Wednesday trade, while ETH and LTC were in a negative area.

All virtual coins have been around since the early days of the digital assets industry, with Litecoin launching in 2011 – two years after the first block of Bitcoin was mined.

Fidelity has been offering customers crypto for years. In 2022, together with Wall Street Giants Charles Schwab, Citadel Securities and Paradigm, IT launched EDX Markets, a crypto exchange for institutional investors.

That same year, faithful unveiled It would enable employees to save 20% of the pension funds in Bitcoin.

The Boston -based company is also one of the best asset managers to light Of the sec last year to launch Bitcoin And Ethereum fair built funds. The Fidelity Wise Origin Bitcoin Fund (FBTC) has generated almost $ 11.4 billion in net entry, the second most among the 11 funds currently traded, according to data from the British asset manager Farside Investors. These funds now manage almost $ 100 billion in assets.

The Fidelity Ethereum Fund (Feth), which debuted last July, received around $ 1.4 billion in net influx, the second most among the nine funds currently acting, according to Fats Side.

Edited by James Rubin