Investing in retirement pensions through Basic Capital
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VanEck announced plans to offer digital asset exchange-traded products (ETPs) on Basic Capital's 401(k) platform, allowing investors to indirectly invest in cryptocurrency-related ETFs through their corporate retirement accounts.
VanEck operates cryptocurrency-focused exchange-traded funds (ETFs), including the VanEck Bitcoin Trust (HODL) and the VanEck Ethereum Trust (ETHV). It also offers the VanEck Digital Transformation ETF (DAPP), which invests in companies in the digital asset industry.
Basic Capital is a fintech company founded in 2021. It operates a service that provides access to alternative asset investments beyond stocks and bonds through a 401(k) platform. Last year, the company raised $25 million (KRW 36.96 billion) in a round led by Forerunner and Lux Capital.
This move comes amid a policy shift aimed at expanding access to cryptocurrency investments in the US retirement market. In May, the US Department of Labor rescinded its previous guidance, which effectively restricted cryptocurrency investments in 401(k) plans.
The policy change is also coupled with the expansion of the retirement pension market. According to the Investment Company Institute, defined contribution pension assets in the United States total approximately $13.9 trillion (KRW 2,542.81 trillion). Of this, 401(k) plan assets amount to approximately $10 trillion (KRW 1,478.4 trillion).
There is also analysis in the market that the long-term nature of retirement pension funds could influence the future expansion of demand for cryptocurrency ETFs.
Reporter Jeong Ha-yeon yomwork8824@blockstreet.co.kr
