The decision on the spot Bitcoin exchange-traded fund (ETF) can be finalized anytime soon. Some experts believe that this will give retirement savers easy crypto access.
Many retirement providers in the United States (US) offer crypto exposure. However, as of now, it is in a gray area as some lawmakers oppose the inclusion of crypto assets in retirement plans.
More Companies Might Offer Crypto Retirement Plan After Spot Bitcoin ETF Approval: Experts
Many providers, including Fidelity Investments, offer crypto to employees’ retirement portfolios. But, there have been challenges from regulators and lawmakers. For instance, the US Department of Labor has warned consumers regarding the dangers of allocating crypto to 401 (k) plans.
Finally, industry leaders believe that retirement savers will have easy exposure to crypto if the US Securities and Exchange Commission (SEC) approves the spot Bitcoin ETF. Steven Larsen, the founder of Columbia Advisory Partners, told CNBC:
“Assuming the SEC gives an affirmative nod to spot bitcoin ETFs, as expected, more companies might decide to offer it within their 401(k) lineup.”
A 401 (k) is a retirement savings plan in the United States.
Nowadays, the most discussed topic in the crypto sphere is the spot Bitcoin ETF. Over ten companies, including giants like BlackRock, have filed for a spot in Bitcoin ETF with the US SEC.
On Tuesday, BeInCrypto reported that the SEC had given the issuers a deadline of December 29 to update their filings. Meanwhile, the final deadline for the SEC to provide a decision on most of the ETF filing, including BlackRock’s, falls in the first half of January.
Read more: How To Prepare for a Bitcoin ETF: A Step-by-Step Approach
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Source: https://beincrypto.com/bitcoin-etf-easy-crypto-acess-retirement-plans/