Bitcoin IRA Sets Ethereum Retirement Plan

Blockchain, FinTech, Investing, News, Regulation | April 21, 2017 By:

Americans can now put ethereum in their retirement funds.

Los Angeles-based financial services firm Bitcoin IRA has created ethereum IRA, a self-directed IRA for the second largest cryptocurrency in the world.

A first of its kind, ethereum IRA is the second product launched by the company following its bitcoin IRA, which enables investors to gain investment exposure to bitcoin in their retirement funds. The company claims that its bitcoin IRA product has secured over $10,000,000 worth of real bitcoin in client custodial accounts since launching in June of 2016.

With ethereum IRA, financiers can hold actual ethereum in retirement accounts by selecting between standard IRAs, Roth IRAs, 401 (k)s, SEP IRAs, and also extra. The company will utilize TradeBlock s ECX Index as a reference rate as well as Genesis Global Trading, Inc. for liquidity.

“Cryptocurrency as an industry is on a new wave of mainstream adoption,” said Bitcoin IRA COO Chris Kline. “As a business, it made sense to listen to our clients. They wanted Ethereum, so we delivered.”

To save investor funds, Bitcoin Ira has entered a partnership with BitGo, using its multi-signature wallet to ensure privacy, security, and full compliance with IRS regulations for self-directed retirement accounts.