Cryptopolytech (CPT) Public Press Pass (PPP)
News of the Day COVERAGE
200000048 – World Newser
•| #World |•| #Online |•| #Media |•| #Outlet |
View more Headlines & Breaking News here, as covered by cryptopolytech.com
Fidelity: Pension Funds Exploring Bitcoin Investments on ETF Approval appeared on bitcoinmagazine.com by Vivek Sen.
Fidelity, a major financial services firm, says pension funds are starting to explore investing in Bitcoin, particularly after the approval of spot Bitcoin exchange-traded funds earlier this year.
BREAKING: Wall Street giant Fidelity says pension funds are beginning to explore #Bitcoin and crypto
Gradually, then suddenly ? pic.twitter.com/8vBz4Bf02t
— Bitcoin Magazine (@BitcoinMagazine) May 3, 2024
Fidelity has been bullish on Bitcoin for years, launching its Digital Assets branch in 2018 and bringing a successful Bitcoin ETF to market earlier this year. The firm’s ETF attracted significant capital compared to competitors.
Now, Fidelity’s VP of Digital Assets Manuel Nordeste says the company is engaging with major pension funds and other institutional investors about allocating to Bitcoin.
Speaking at a recent event, Nordeste stated: “Now, we’re starting to have conversations with the larger, real money institutional investor types, and we’re getting some of those clients, as well as corporates and so on.”
His comments come after BlackRock also mentioned yesterday having educational conversations with pension funds regarding Bitcoin ETFs. Recent 13F filings show major pension consultants have already purchased spot Bitcoin ETFs.
This mounting evidence indicates serious diligence is underway about allowing pension investments in Bitcoin vehicles like ETFs.
With over $4 trillion in capital, U.S. pension funds committing even tiny portfolio allocations could drive significant inflows.
While pensions remain cautious compared to family offices and hedge funds, who’ve already bought Bitcoin exposure, their conservative mandates and focus on risk management has kept most pensions on the sidelines so far.
If pensions follow the lead of early adopters, it would represent a seismic shift in mainstream acceptance.
Thus far, Bitcoin ETFs have seen tremendous demand since launching this year. While this week marked record outflows, the long-term trajectory still appears highly favorable.
FEATURED ‘News of the Day’, as reported by public domain newswires.
View ALL Headlines & Breaking News here.
Source Information (if available)
This article originally appeared on bitcoinmagazine.com by Vivek Sen – sharing via newswires in the public domain, repeatedly. News articles have become eerily similar to manufacturer descriptions.
We will happily entertain any content removal requests, simply reach out to us. In the interim, please perform due diligence and place any content you deem “privileged” behind a subscription and/or paywall.
CPT (CryptoPolyTech) PPP (Public Press Pass) Coverage features stories and headlines you may not otherwise see due to the manipulation of mass media.
First to share? If share image does not populate, please close the share box & re-open or reload page to load the image, Thanks!