The new product will allow Fidelity users to invest in Bitcoin through a Digital Assets Account in their 401(k) plan. Read the full announcement today.
“Increasingly, we are seeing interest from leading employers to add digital assets to their 401(k) plan," said Chris Call, EVP Retirement Services, Newfront. “As companies consider alternative investment options in their plan design, we believe digital assets are worthy of consideration.”
Fidelity also plans for additional updates in the coming months as Fidelity continues to build out its digital asset platform, and expanding use cases beyond Bitcoin.
Litecoin is the next obvious choice for Fidelity to add in the future, it is the most bitcoin-like digital property, that shares 99% of the same base code, has arguable the fairest launch of all cryptos and follows Bitcoin in adoption.