Close on the heels of a U.S. Department of Labor (DOL) release listing the agency's concerns about offering cryptocurrency in 401(k) plans, Fidelity announced that, yes, it was offering cryptocurrency in 401(k) plans.
The investment giant's workplace Digital Assets Account (DAA) will enable employees who are "comfortable with the risks and volatility of cryptocurrency" to invest in bitcoin within the core lineup of their 401(k) plan. Plan sponsors who decide to offer the DAA will establish employee contribution and exchange limits, and participants will "benefit from a fully integrated retirement plan, digital experience, and education to help them make informed decisions," Fidelity says.
The first employer to take advantage of it will be the business intelligence company MicroStrategy, which plans to add cryptocurrency to its 401(k) plan later this year.
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