Fidelity Investments will allow investors to put bitcoin (BTC) into their 401(k) retirement savings accounts later this year.<\/p>\n
Plan sponsors that would offer it, could place a ceiling on the amount of savings earmarked for bitcoin, with the maximum cap expected to be no more than 20%.<\/p>\n
Fees on the bitcoin investments in Fidelity\u2019s 401(k) accounts would range between 0.75% and 0.90% \u2013 depending on the size of the plan. An additional trading fee would be levied, which remains undisclosed at writing time.<\/p>\n
This decision by Fidelity was done despite the Department of Labor (DOL) issuing a directive that cryptocurrencies were speculative and volatile trading investments with inflated valuations. The DOL expressed \u201cserious concerns\u201d about providers offering cryptocurrencies in retirement plans.<\/p>\n
<\/span><\/p>","protected":false},"excerpt":{"rendered":" Fidelity Investments will allow investors to put bitcoin (BTC) into their 401(k) retirement savings accounts later this year. Plan sponsors that would offer it, could place a ceiling on the amount of savings earmarked for bitcoin, with the maximum cap … Continue reading