Bitcoin IRA, a service that offers cryptocurrency investing for American individual retirement accounts (IRAs), has announced the launch of Ethereum IRA, a self-directed IRA for the second-most valuable cryptocurrency by market cap.
Ethereum IRA is the second product launched by the company following its Bitcoin IRA, which has secured over $10,000,000 worth of real bitcoin in client custodial accounts since launching in June of 2016. Similar to its flagship product, American investors can hold real Ethereum in retirement accounts by choosing between traditional IRAs, Roth IRAs, 401(k)s, SEP IRAs, and more.
The company will use TradeBlock s ECX Index as a reference rate and Genesis Global Trading, Inc. for liquidity. 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.
“It’s been a pleasure working with the innovative team at Bitcoin IRA,” said Mike Belshe, CEO of BitGo. “Together, we foresee tremendous opportunity and growth for our clients.”
“Cryptocurrency as an industry is on a new wave of mainstream adoption. As a business, it made sense to listen to our clients,” explained Chris Kline, COO of Bitcoin IRA. “They wanted Ethereum, so we delivered.”