Basic adds VanEck crypto ETFs to 401(K) plans

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Basic adds VanEck crypto ETFs to 401(K) plans
Basic adds VanEck crypto ETFs to 401(K) plans
Bloomberg
Written by Bloomberg
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Asset manager VanEck has made several of its digital asset exchange-traded products available to US retirement savers through fintech 401(k) provider Basic Capital.

The integration allows participants in employer-sponsored retirement plans using the Basic Capital platform to gain exposure to cryptocurrency through exchange-traded funds.

VanEck is best known in the crypto sector for the VanEck Bitcoin Trust and VanEck Ethereum Trust, which track the price of Bitcoin and Ether through spot exchange-traded funds.

The companies did not disclose exactly which VanEck digital asset products will be offered through the platform.

The offering follows a shift in US policy after the Department of Labor rolled back earlier guidance discouraging 401(k) providers from including crypto investments in retirement plans.

President Donald Trump also signed an executive order directing federal agencies to expand access to alternative assets such as digital assets in retirement accounts.

Employer-sponsored defined contribution retirement plans held about $13.9 trillion in assets as of September, including roughly $10 trillion in 401(k) plans, according to the Investment Company Institute.

At the time of reporting, Bitcoin price was $70,215.43.

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