Fidelity is rolling out Bitcoin investing for 401(k) plans

Illustration by Alex Castro / The Verge

Fidelity will soon start allowing eligible individuals to save a portion of their 401(k) in Bitcoin, the company announced Tuesday. Employees will only gain access to the option if their employer signs off the option, which Fidelity says will start rolling out in mid-2022.

While Fidelity doesn’t specify how much employees can dedicate to cryptocurrency in its release, the Wall Street Journal reports that employees can elect to save up to 20 percent of their retirement fund in Bitcoin. Dave Gray, Fidelity’s head of workplace retirement offerings and platforms, also told the WSJ that Fidelity plans on adding support for other cryptocurrencies at some point in the future.

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Author: Emma Roth