BitcoinIRA has announced the launch of Ethereum IRA, a self-directed IRA for the Ethereum cryptocurrency. Ethereum IRA is the second product launched by the company following the Bitcoin IRA, which has secured over $10,000,0000 worth of real bitcoin in client custodial accounts since launching in June last year.
Similar to its flagship product, Bitcoin IRA, investors can hold real Ethereum in retirement accounts by choosing between traditional IRAs, Roth IRAs, 401(k)s, SEP IRAs, and more. To store investor funds, the company has entered an exclusive partnership with BitGo, utilizing its multi-signature wallet to ensure privacy, security, and full compliance with IRS regulations for self-directed retirement accounts.
Mike Belshe, CEO of BitGo, commented: “It’s been a pleasure working with the innovative team at Bitcoin IRA. Together, we foresee tremendous opportunity and growth for our clients.”
Unlike traditional ETFs and investment plans, investors in Bitcoin IRA and Ethereum IRA continue to own their cryptocurrency, even after the end of the IRA tenure, allowing them to freely distribute it. The potential growth that many cryptocurrencies exhibit make them attractive for long term investment. In 2017, Ethereum has experienced 388% growth, from less than $10 per unit to over $44.
COO of Bitcoin IRA, Chris Kline explained: “Cryptocurrency as an industry is on a new wave of mainstream adoption. As a business, it made sense to listen to our clients. They wanted Ethereum, so we delivered.”