Fidelity created a huge boost for the class when it decided to allow crypto investments in its 401(k) plans, which Edelman called “extremely exciting.” The move created a huge new market for digital assets and provided a way for more people, who have no other investments, to invest in crypto. Employers can even use this as a selling point to lure new talent, he said.
Unlike other asset classes, investors do not need to devote a large portion of their portfolios to digital assets in order to make a difference. One percent of the portfolio is enough. “If you want to knock yourself out, go for 3%,” he said.
“As an advisor, you don’t have to like crypto, but you want to help your clients manage it,” Edelman said.