Fidelity Investment, a financial services provider, announced that it will allow investors to add (BTC), to their retirement accounts under 401(k). This makes it the first company to offer this option.

The option, which will become available later this year, will allow 23,000 companies that use Fidelity to manage their retirement plans to include the world’s largest cryptocurrency in their accounts.

This move is a sign that Bitcoin adoption continues to grow. It comes just one month after concerns were raised by the Labor Department about crypto assets being included in retirement plans.

Fidelity’s announcement comes amid a period of significantly high volatility for Bitcoin, with the cryptocurrency being down over 40% since it peaked in November.

Due to rising interest rates due geopolitical tensions, the index is down 10% over the same period.

“There is a need for a diverse set of products and investment solutions for our investors,” said Dave Gray, head of workplace retirement offerings and platforms at Fidelity.

“We fully expect that cryptocurrency is going to shape the way future generations think about investing for the near term and long term.”

Fidelity customers will be able to give up to 20% of the nest eggs they have to BTC. Plan sponsors may reduce that limit.

Gray stated that clients can initially add Bitcoin to retirement accounts, but the company will eventually include other digital assets.

By Senad Karaahmetovic