Skip to content
Daily Alts Assets 02
  • News
    • Alternative Investments
    • Artificial Intelligence
    • Digital Assets
    • ESG and Sustainability
    • FinTech
    • Hedge Funds
    • Liquid Alternatives
    • Private Equity
    • Real Estate
    • Venture Capital
  • Insights
    • Alts Education
    • Community Banking
    • The DailyAlts Playbook
    • Guest Contributors
    • Interviews
    • PE Replication
    • Special Reports
  • Newsletters
  • Events
    • Conferences
    • Webinars
    • DailyAlts Roadshow
  • About
    • Advertise with DailyAlts
    • Contact
  • Login
Search

Digital Assets: Fidelity To Allow 401 (k) Investors Access To Bitcoin

April 26, 2022 | Digital Assets, Latest News, News
https://dailyalts.com/wp-content/uploads/2022/04/piggy-bank-gdefe5faa3_640.jpg

Fidelity’s new ‘Digital Assets Account’ Will Meet Growing Employer Demand to Offer 401(k) Investors Access to Bitcoin

Fidelity Investments today announced the launch of its workplace Digital Assets Account, a product designed to help workers to allocate a part of their savings to bitcoin through the core 401(k) plan investment lineup. The move follows a rising demand from employers to offer the bitcoin as an option to 401(k) investors, with MicroStrategy (NASDAQ: MSTR) planning to be the first employer to use the product. (Fidelity Investments)

Fidelity and digital assets

The Digital Assets Account (DAA) will meet the growing interest in digital assets from 401(k) plan sponsors and participants. The DAA is a custom plan account that holds bitcoin and short-term money market investments to provide the liquidity needed for the account to facilitate daily transactions on behalf of the investor.

DAA offers a new way for employees to diversify investments in their retirement portfolio by adding digital assets, specifically, bitcoin.

Bitcoin held in the DAA is securely custodied by Fidelity Digital Assets, an institutional-grade platform that offers custody and trade execution for digital assets to institutional investors.

In 2020, Fidelity’s digital asset management business launched a private bitcoin fund that is currently available to accredited investors.

Dave Gray, Head of Workplace Retirement Offerings and Platforms at Fidelity Investments, said: “There is growing interest from plan sponsors for vehicles that enable them to provide their employees access to digital assets in defined contribution plans, and in turn from individuals with an appetite to incorporate cryptocurrencies into their long-term investment strategies.”

Gray added that the new offering was a sign of Fidelity’s belief in the promise of blockchain technology for the financial industry’s future.

Related Story: Fidelity Launches Crypto And Metaverse Themed ETFs

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.







Share Us




Share on Facebook



Share on Twitter



Share on Linkedin



Share on Email
Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/05/Michael-Saylor_HQ-2-scaled.jpg
Digital Assets: Michael Saylor Unmoved By Crypto Weakness; “We Think It’s The Future Of Money”
May 20, 2022     Digital Assets, News

Michael Saylor, CEO of MicroStrategy (NASDAQ: MSTR), who is permanently bullish on bitcoin, reiterated his positive outlook for the leading crypto in an interview on Thursday. Note that MicroStrategy currently…

https://dailyalts.com/wp-content/uploads/2022/05/bacteria-g0d4c93622_640-overlay.png
Digital Assets: Traditional Markets Could Suffer Contagion From (Un)Stablecoins (SEC Chair Gensler)
May 20, 2022     Digital Assets, News

The crypto world was dealt a body blow by the collapse of the TerraUSD (UST) stablecoin earlier this month. The Terra meltdown is now being referred as crypto’s “Lehman moment.”…

https://dailyalts.com/wp-content/uploads/2022/05/xendit-unit-combined.jpg
Venture Capital: Big-Ticket Funding Rounds In Fintechs
May 20, 2022     FinTech, News, Venture Capital

Fast-growing, Southeast Asia-focused payments infrastructure platform Xendit closed on a US$300 million Series D funding co-led by Coatue and Insight Partners with additional investment from Accel, Tiger Global, Kleiner Perkins,…

https://dailyalts.com/wp-content/uploads/2022/05/Hero_image_with_QR_code.jpg
FinTech: Sam Bankman-Fried Led FTX.US Makes Inroads Into Stock Trading
May 20, 2022     Digital Assets, FinTech, Latest News, News

FTX Stocks is an equity trading platform offered through the FTX US trading application. FTX US announced Thursday a private beta phase trading on the platform for US customers selected…

More Alternative Investment News

Subscribe to DailyAlts

Footer Subscribe

  • This field is for validation purposes and should be left unchanged.

What We Cover

  • Alternative Investments
  • Artificial Intelligence
  • Digital Assets
  • FinTech
  • Hedge Funds
  • Liquid Alternatives
  • Private Equity
  • Real Estate
  • Venture Capital
  • ESG and Sustainability

Careers

Contact Us

© 2020 DailyAlts.  |  All Rights Reserved  |  Privacy Policy  |  Terms & Conditions