Financial giant Fidelity Investments will now allow investors to add Bitcoin (BTC) to their 401(k) retirement accounts.

According to a recent <a href="https://www.nytimes.com/2022/04/26/business/crypto-401k-fidelity.html" target="_blank" rel="noopener">report</a> from The New York Times, Fidelity plans to start offering Bitcoin-holding 401(k)s later this year and will charge a fee of up to 0.9 percent for it.

Upon visiting the firm’s <a href="https://www.fidelityworkplace.com/s/digitalassets" target="_blank" rel="noopener">website</a>, it shows that the accounts come as a part of a “proprietary offering” called Digital Assets Accounts (DAAs) and are available to 401(k) plan sponsors where participants will be custodied on the firm’s Digital Assets platform.  In addition to that, employees also receive access to crypto education “to help them make informed decisions.”

According to a Fidelity spokesperson, the firm’s DAAs, however, won't include access to cryptocurrencies beyond Bitcoin, and have currently no plans to offer other cryptos through the accounts.

MicroStrategy, the business intelligence firm, also known as the biggest corporate holder of Bitcoin, has already signed up with the DAAs to offer the feature to its employees. The firm had 2,121 employees at the end of 2021, with 796 based in the United States.

Fidelity to Add Support for Bitcoin in Retirement Accounts

Financial giant Fidelity Investments will now allow investors to add Bitcoin (BTC) to their 401(k) retirement accounts.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Fidelity to Add Support for Bitcoin in Retirement Accounts

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