Fidelity executive: Pension plans are beginning to explore investment opportunities in the crypto space

BlockBeats news, on May 4, Manuel Nordeste, vice president of Fidelity Digital Assets, said at an event in London recently that fixed income plans and other pension funds "are just beginning to discuss" crypto assets with investment committees. Nordeste said that small but mature investors such as family offices and high-net-worth individuals are more likely to buy cryptocurrencies. When Fidelity Digital Assets just started (2018), it saw "family offices, small professional asset management companies and hedge funds, and then large blue-chip hedge funds", adding: "Now, we are starting to talk to larger, real institutional investors, and we are getting some of these clients, as well as companies, etc." According to the think tank Urban Institute, by 2023, the total retirement savings of American teachers and firefighters will be $4.7 trillion. Most of it (71%) is allocated to stocks and 21% is allocated to bonds. However, a survey of the broader market by Fidelity Digital Assets showed that 80% of high net worth individuals were positive about digital assets, while only 23% of pension plans were positive. Of these, 48% of respondents invested in digital assets, while only 7% of pension plans invested in digital assets.