Fidelity’s New 401(k) Offering Will Invest in Bitcoin
Fidelity Investments announced Tuesday that it would enable its participants to put a slice of their retirement savings into Bitcoin, if their employers are willing to allow it. The announcement comes a month after the U.S. Department of Labor said it would cast a critical eye on plans that added digital assets to their investment menus. Fidelity said it was introducing a digital assets account to hold Bitcoin. The account fee will be between 0.75% and 0.90% of assets, depending on several factors including the employer and the amount invested. An additional trading fee, not yet disclosed, will be “competitively priced,” the firm said.
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