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Fidelity Digital Assets says “Pension funds are just beginning to talk about investing in Bitcoin”

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Fidelity Digital Assets says “Pension funds are just beginning to talk about investing in Bitcoin” 3

Fidelity Digital Assets vice president revealed that wealthy families and individuals are already very interested in giving exposure to crypto for their pension funds.

Fidelity Digital Assets is a subsidiary of Fidelity Investments, one of the largest financial services companies that provides services globally. It focuses specifically on providing cryptocurrency-related services, such as custody and trading, to institutional investors like hedge funds, family offices, and high-net-worth individuals. Fidelity Digital Assets aims to offer secure and reliable solutions for investing in digital assets within a regulated framework, leveraging Fidelity’s extensive experience and reputation in the traditional finance sector.

Reportedly Manuel Nordeste, Vice President at Fidelity Digital Assets, explained that while pension funds are just beginning to consider investing in cryptocurrency, wealthy families and individuals are already very interested in it.

Defined benefit plans and other pension funds “are only starting to talk to their investment committees” about crypto assets, Manuel Nordeste, vice president at Fidelity Digital Assets. Small-scale but sophisticated investors like family offices and high-net-worth individuals are…

— Wu Blockchain (@WuBlockchain) May 4, 2024

According to many crypto news website reports, if it happens with full confidence then there are huge chances that a huge amount of money inflow will take place in this market, as currently, this fund manager manages $4.8 trillion worth of funds. 

It is worth it to note that with the entry of top fund manager BlackRock in the Bitcoin sector with the approval of Bitcoin spot ETF products, a huge number of funds showed an inclination toward Bitcoin (BTC).

A couple of months ago, some experts noted that a decent number of different kinds of traditional fund providers were engaging in the due diligence process to launch Bitcoin spot ETF products.

Currently, 10 out of 11 approved bitcoin spot ETF products are available in the US. And nowadays, fund managers are seeking to get approval for their proposed Ethereum spot ETF applications. 

Bitcoin price 

The current trade price of Bitcoin (BTC) is $64,300 & this trade price is 5% higher over the last 24 hours period.

Fidelity Digital Assets says “Pension funds are just beginning to talk about investing in Bitcoin” 2

 Read also: Bankrupt crypto lender CRED’s former executives face money laundering charges

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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