US Crypto firm launched 401(k) program
In the US one of the three legs of a retirement stool is the 401(k) and it is typically only open to traditional investing channels. I.E Stocks and Bonds which can appear to be myopic. So, Digital Asset Investment Management (DAiM) has announced the launch of a company-sponsored 401(k) retirement plan that allocates up to 10% in bitcoin. On the surface that might not seem like much BUT if each 401(k) provider open their fund to 10% of investable assets the Sky would be the limit for Crypto's.
So how did we get here? US based Digital Asset Investment Management (DAiM) revealved their ERISA compliant 401(k) plan which allows an allocation of BTC. Additionally, DAiM will be the fiduciary and the advisor for those seeking to allocate funds to Crypto's.
The firm also stated “Bitcoin will be held securely in institutional cold storage custody with Gemini Trust, our partner for our primary investment advisory services. The new fund will also have the same protection as a 'traditional 401(k) that when they leave their employer they can take their funds with them (always, utilize the custodian transfer to avoid punitive charges that could have been delayed if handled properly)
Summary - the US crypto thaw continues drip by drip, perhaps we have seen enough broad crypto action to make a difference to US citizens in '21
Enjoy the Journey
