MassMutual Opens Access to Bitcoin Fund for Financial Professionals and Investors
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The Massachusetts Mutual Life Insurance Company (also known as MassMutual) has announced that its broker-dealer MML Investors Services (MMLIS) has signed an agreement with NYDIG for a bitcoin (EXANTE: Bitcoin) fund. The Massachusetts-based insurance giant will open access to the cryptocurrency market to financial professionals and investors.

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The company highlighted that cryptocurrencies are "increasingly becoming part of the financial landscape." MassMutual also said it is working on a number of undisclosed initiatives to serve its clients' needs. Daken Vanderburg, Head of Investments at MMLIS, said that the broker saw a "growing demand" from its clients to gain bitcoin exposure.

"This offering with NYDIG is yet another step to continue to expand our product shelf with the goal of ensuring our financial professionals and clients have the tools they need to continue to build broadly diversified portfolios," Vanderburg added.

Bitcoin Firm NYDIG Raises $200M from Morgan Stanley, MassMutual

In December last year, MassMutual invested $100 million in bitcoin for its general investment account. The company said the investment was based on a big strategy to "take advantage of new opportunities" with diversified portfolio. Founded in 1851, MassMutual offers services related to life insurance, retirement, and investments plans.

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