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gray cryptocurrency globe with chart behind it (Photo: vit_mar/AdobeStock)

Close on the heels of a Department of Labor release listing its concerns about offering cryptocurrency in 401(k) plans, Fidelity announced it was, yes, 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,” according to Fidelity, to invest in bitcoin within the core lineup of their 401(k) plan. Plan sponsors who decide to offer the DAA establish employee contribution and exchange limits, and participants “benefit from a fully integrated retirement plan, digital experience and education to help them make informed decisions,” Fidelity says.

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C.J. Marwitz, editor, BenefitsPRO

C.J. Marwitz, editor, writes and acquires content for the retirement advisor/plan sponsor audience at BenefitsPRO. Marwitz also considers contributed bylines on 401(k)s, pensions, financials with a DE&I focus, litigation, regulation, best practices and op-eds.  A former technology editor, advertising copywriter, and academic advisor, Marwitz is the mother of three and walker/stick-thrower to a Welsh Corgi named Leeloo Dallas Multipass.

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