U.S. customers can now include Bitcoin, Ethereum, and Litecoin in their individual retirement plans.
Fidelity, one of the largest asset managers in the U.S. and the leading provider of 401(k) retirement accounts, has announced an expansion of its financial services, allowing clients to invest in Bitcoin, Ethereum, and Litecoin through individual retirement accounts (IRAs).
Starting April 2, investors can gain exposure to these three cryptocurrencies by opening a “crypto IRA.” Fidelity, which already offers these digital assets through its trading service, will also handle their custody.
Fidelity’s spot ETFs
The Boston-based firm is also among the major asset managers that received SEC approval last year to launch spot ETFs for Bitcoin and Ethereum. The Fidelity Wise Origin Bitcoin Fund (FBTC) has recorded nearly $11.4 billion in net inflows, ranking second among the 11 funds currently trading, according to data from U.K. asset manager Farside Investors. The Fidelity Ethereum Fund (FETH), launched last July, has attracted approximately $1.4 billion in net inflows, making it the second-largest among the nine funds currently available.
