Fidelity, BlackRock Onboard Pension Funds into Bitcoin ETFs; AUM at $4.9T

Fidelity, an asset manager with approximately $4.9 trillion in assets under management, has reported that pension funds are beginning to explore investments in Bitcoin and other cryptocurrencies. This move is significant given that U.S. pension funds manage over $10 trillion in assets. Both Fidelity and BlackRock are actively onboarding these funds into their Bitcoin ETFs, and BitwiseInvest is also engaging advisors and wealth management teams across the country. The interest in cryptocurrencies among these funds marks a potential shift in how institutional funds are allocated towards digital assets.