... [+]San Francisco-based 401 provider ForUsAll will allow employees to invest part of their 401 directly into the cryptocurrencies of the Coindesk Market Select Index —an index designed by the Digital Currency Group-owned crypto news site and currently made up of 28 different coins.
"This is a groundbreaking move to bring crypto to the people," Jodie Gunzberg, managing director of indices at Coindesk, said in an interview, adding it reflects the way investors access the stock market via the S&P 500 and Nasdaq 100 indices. The move is a huge expansion of the six cryptocurrencies—bitcoin, ethereum, solana, polkadot, cardano and the dollar-pegged stablecoin USDC—ForUsAll began offering to workers last year.
ForUsAll chief executive David Ramirez pointed to demand among younger people to invest in crypto and blockchain technology."Like many institutional investors, they believe blockchain is a potentially transformative technology," Ramirez said in a statement, adding ForUsAll has installed guardrails to limit investor's overall 401 crypto allocations.
The CMIS includes better-known cryptocurrencies such as bitcoin, ethereum and litecoin as well as the likes of AXS, the cryptocurrency of blockchain-based game Axie Infinity that
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‘Groundbreaking’ Crypto Index 401(k) Opens Up $7 Trillion Market Beyond Bitcoin And Ethereum After Huge Price CrashThe 401(k) provider forusall401k will allow investing directly into CoinDesk Market Select Index (CMIS) cryptocurrencies. The index was developed by CoinDesk Indices and currently consists of 28 different coins. More from forbes: ForUsAll401k Forbes iExec is also secure and private, ensuring that user data is protected at all times. The platform uses advanced encryption algorithms to keep data secure, and all transactions are transparent and auditable. $RLC ForUsAll401k Forbes A collection of 💩🪙 just buy bitcoin folks and self custody it. ForUsAll401k Forbes DON’T use Coinbase to off ramp to DEFI they will block / disable your account
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