Fidelity, a major financial services company, said that pension funds are starting to consider investing in Bitcoin, especially after the approval of Spot. Bitcoin exchange-Funds traded earlier this year.
BREAKING NEWS: Wall Street giant Fidelity says pension funds are starting to explore #bitcoin and cryptocurrency
Gradually and then suddenly 🚀 pic.twitter.com/8vBz4Bf02t
— Bitcoin Magazine (@BitcoinMagazine) May 3, 2024
Fidelity has been bullish on Bitcoin for years and launched a successful digital asset division in 2018. Bitcoin ETF It is scheduled to be launched on the market early this year. The company’s ETFs have attracted more money than its competitors.
Now, Manuel Nordeste, Fidelity’s vice president of digital assets, said the company is in talks with major pension funds and other institutional investors about allocating to Bitcoin.
“Right now, we’re starting conversations with larger real-money institutional types, and we’re also acquiring clients such as corporate clients,” Nordeste said at a recent event.
His comments came after BlackRock also mentioned yesterday Have educational conversations with pension funds about Bitcoin ETFs. His recent filings on the 13th floor include: Major pension consultant I have already purchased the Spot Bitcoin ETF.
This growing body of evidence shows that they are getting serious about allowing pension investments in Bitcoin vehicles like ETFs.
With over $4 trillion in capital, U.S. pension funds can generate large inflows even with small portfolio allocations.
Pensions remain cautious compared to family offices and hedge funds that are already buying Bitcoin exposure, but their conservative mission and focus on risk management has kept most pensions on the sidelines so far. It is maintained.
If pensions were to follow in the footsteps of early adopters, it would represent a seismic shift in mainstream acceptance.
So far, Bitcoin ETFs have seen tremendous demand since their launch this year. Despite record outflows this week, the long-term trajectory still looks very positive.