The $4.8 trillion asset management firm Fidelity has said that pension funds are beginning to explore Bitcoin and other cryptocurrencies. Indeed, pension plans are reportedly expressing interest in digital asset investment amid the Spot Bitcoin ETF approvals granted earlier this year.
Fidelity Digital Asset’s vice president, Manuel Nordeste, revealed the revelation. Speaking at an event in London on Wednesday, Nordeste noted that pension funds “are only starting to talk to their investment committees” about crypto assets.
Also Read: Fidelity Spot Bitcoin ETF Now Holds Over $10 Billion Worth of BTC
Fidelity Says Pension Funds Are Exploring Crypto
Earlier this year, Fidelity was one of several issuers behind the United States’ inaugural Spot Bitcoin ETF arrivals in the country. Indeed, the US Securities and Exchange Commission (SEC) had greenlit the investment offerings. Moreover, they had proven to be highly successful just five months into trading.
However, the firm has recently discussed the potential for expanded integration of digital assets into traditional investments. Specifically, Fidelity has said that pension funds are exploring Bitcoin and other cryptocurrencies.
Also Read: Spot Bitcoin ETFs Already BlackRock & Fidelity’s Most Popular
The statement arrived just a day after a similar sentiment was shared by BlackRock. The leading asset management firm stated it was holding an educational dialogue with pension funds regarding its Spot Bitcoin ETF.
Fidelity has shown a belief in digital assets since it launched a specified branch for the assets in 2018. Moreover, that interest culminated in the Fidelity Wise Origin Bitcoin Fund (FBTC) arriving in January of this year.
United States pension funds boast more than $10 trillion in assets under management alone. Subsequently, statements from both BlackRock and Fidelity show that work is undoubtedly being put into the allowance of pension investments into these Bitcoin investment vehicles. The eventual development of this should drive impressive inflows.