Coinbase Offers Crypto Investment Option for 401(k) Retirement Plan

Coinbase, one of the largest crypto exchanges, has partnered with 401(k) pension fund provider ForUsAll Inc to allow subscription holders to invest in cryptocurrencies. The partnership will allow 401(k) retirement plan holders to invest up to 5% of their balance in crypto assets. There is little to zero crypto exposure in 401(k) retirement plans or individual retirement accounts. Industry insiders cite the high volatility of the crypto market as a reason against its adoption, and many want at least 1% of these retirement plans to include a crypto portfolio. The retirement and retirement account market is a $22 trillion industry, and ForUsAll represents a tiny $1.7 billion market. However, it may also lead some other retirement plan providers in the near future. The pension provider will also be the first to offer direct crypto exposure to its customers. Some of the 401(k) accounts operated by Fidelity and Schwab allow the purchase of certain products offered by Grayscale, but none have shown any intention of direct exposure to crypto, citing strong volatility in the crypto market. Pension fund industry debates about allowing crypto investments The WSJ report shows that the pension fund market has meaningful full discussions about crypto investments in pension plans. Cryptoassets are starting to appear in institutional portfolios, including KiwiSaver retirement savings in New Zealand. All customers who choose the ForUsAll new crypto investment plan can transfer up to 5% of their account balance to a self-managed cryptocurrency window using Coinbase's institutional trading platform. This Coinbase trading window provides access to all 50 crypto assets listed on the exchange. Employees can also invest up to 5% of each payroll contribution in cryptocurrency. Coinbase Offers Crypto Investment Option for 401(k) Retirement Plan first appeared on Coingape.

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