Fidelity Investments announced Tuesday that it will offer bitcoin as an investment option in its 401(k) plans by the middle of this year.
It’s a big move given that Fidelity is the largest 401(k) plan provider in the United States, acting as custodian for 23,000 plans, which have 20.4 million participants. In total, those plans represent $2.7 trillion in assets under management.
It is also the first major 401(k) provider to offer cryptocurrency as an investment for retirement savers.
The bitcoin option, however, will only be on offer to participants whose employers have elected to include it in their plan.