History was made earlier this week when Fidelity Investments confirmed it would allow participants in employer-sponsored 401(k) plans options to invest in Bitcoin, making Fidelity to become the first institution to allow their clients to allocate up to a maximum of 20% of their 401(l)s retirement savings to Bitcoin.
Fidelity’s digital assets study last year, found that 30% of US institutional investors wanted an investment product containing digital assets and an endorsement by the US’ largest retirement plan provider, which has more than $11 trillion in assets under management, potentially moves cryptocurrency investing further into the mainstream.
Similarly, Fidelity is currently building its digital asset platform which will be released later this year.