Associate Research Analyst
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On April 26th, 2022, Fidelity Investments announced plans to offer bitcoin for 401(k) plans. For Fidelity, this plan is a natural next step. As shown in Exhibit 1, Fidelity began exploring digital assets in 2014. Soon after, bitcoin-centric custody solutions began to emerge, followed by a private fund and spot-based ETF. While Fidelity’s embrace of bitcoin could be seen simply as bandwagon hopping, the trend below suggests that bitcoin may be part of a broader long-term digital asset strategy.
In this edition of DC Perspectives, we cover the implications of Fidelity’s announcement for bitcoin and digital assets broadly, for the investment industry, and for defined contribution plan sponsors.
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