Fidelity has partnered with SecondMarket’s Bitcoin Investment Trust to allow its clients to save for their retirement by putting the virtual currency in self-directed IRAs.
“If you are a Fidelity client, you can now invest in the Bitcoin Investment Trust through an IRA,” said Barry Silbert, chief executive of SecondMarket, in an interview.
The Bitcoin Investment Trust is an open-ended trust that launched in late September and only invests in the virtual currency. The trust, which is only open to accredited investors, had $62.6 million in assets under management as of Tuesday.
MarketWatch previously reported that SecondMarket had teamed up with self-directed IRA providers PENSCO, Entrust and Equity Institutional to allow investors to save for retirement with Bitcoin. Fidelity is the largest and most well-known company that SecondMarket has teamed up with for this, Silbert said, adding that he hopes to add a few more providers soon.