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According to Fidelity Digital Assets Vice President Manuel Nordeste, retirement planners are slowly warming up to the idea of investing in crypto assets.
Retirees Examine Crypto Investments, Fidelity Sees $4.7 Trillion Opportunity
Speaking at an event in London, Nordeste revealed that defined benefit plans and other pension funds have begun discussing crypto assets with their investment committees.
While the crypto market is largely dominated by small-scale but sophisticated investors such as family offices and high-net-worth individuals, larger institutional investors are starting to show interest.
Nordeste noted that Fidelity Digital Assets, founded in 2018, initially attracted interest from family offices, private asset managers and hedge funds, but is now beginning to engage larger institutional investors and companies.
A survey by Fidelity Digital Assets found that 80% of high-net-worth individuals have a positive view of digital assets, compared to just 23% of retirement plans.
Additionally, while 48% of these individuals had invested in digital assets, only 7% of their retirement plans had invested in digital assets.
Pension funds, known for their conservative strategies, are taking a cautious approach to the volatile crypto market.
Nordeste explained that unlike pensions, which require more time and specific market conditions, smaller firms can be more agile and take more risks due to their flexible investment mandates.
Fidelity rival BlackRock recently said it expects institutions, including pension funds, to begin trading in the Bitcoin spot market through exchange-traded fund (ETF) products approved by the U.S. Securities and Exchange Commission in January.
*This is not investment advice.