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Coinbase to Manage Crypto Investments of 401(k) Provider ForUsAll
Workers in plans administered by ForUsAll will have the option to invest up to 5% of their contributions in crypto
Clients of 401(k) provider ForUsAll will be able to invest part of their retirement plans in cryptocurrency as a result of a new partnership with Coinbase.
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- Workers in plans administered by ForUsAll will have the option to invest up to 5% of their contributions in crypto, The Wall Street Journal reported Thursday. Coinbase, the crypto exchange, will manage trading and custody of the crypto through its institutional unit.
- ForUsAll administers 401(k) plans for 400 employer clients. It did not say how many have signed up for the option.
- The San Francisco-headquartered firm was founded in 2012 and holds $1.7 billion in retirement-plan assets.
- Crypto exposure in retirement plans is not widespread, a situation that may change as further institutional adoption takes hold.
Read more: New Zealand Fund Manager Puts 5% of Retirement Plan’s Assets Into Bitcoin: Report
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
