CHICAGO & NEW YORK--(BUSINESS WIRE)--ErisX today announces that it has joined the Retirement Industry Trust Association (RITA) to assist in the education and advocacy of crypto investing for self-directed IRAs.
RITA was established in 1987 to promote the interests of trustees, custodians and administrators of self-directed retirement plans holding alternative assets through legislative and regulatory lobby activities. Currently, RITA members hold approximately $100 billion in alternative assets in self-directed retirement plans.
In an effort to expand IRA holders’ investment and trading options to include cryptocurrencies and stablecoin products (Bitcoin, Ether, Litecoin, Bitcoin Cash and USDC) and to help them achieve their financial goals, ErisX has been working with a number of IRA custodians and administrators.
“We are pleased to welcome ErisX as members of the RITA organization to help us raise awareness about crypto for self-directed IRAs,” said Mary Mohr, Executive Director of RITA. “Crypto has gained substantial interest from retirement investors and we are excited to offer our members an opportunity to learn more and engage with a secure and transparent crypto marketplace.”
“We look forward to further working with the RITA organization and its members to offer access to our licensed, U.S. based spot market. This will enable individual investors of all types to buy and sell cryptocurrencies and confidently diversify their IRA portfolios,” said Thomas Chippas, CEO of ErisX. “Opening an account at ErisX is fast and easy, with just a few simple steps.”
Investors who have a self-directed IRA with one of our participating partners complete the ErisX onboarding process as an individual member by clicking sign up on the ErisX website. In addition to individual IRA accounts, entities can onboard via IRA LLC or Solo 401K. Members can send their requests to firstname.lastname@example.org. For more information, please visit www.erisx.com.
ErisX Futures are offered through Eris Exchange, LLC, a Commodity Futures Trading Commission (CFTC) registered Designated Contract Market (DCM) and Eris Clearing, LLC, a registered Derivatives Clearing Organization (DCO). The CFTC does not have regulatory oversight authority over virtual currency products including spot market trading of virtual currencies. ErisX Spot Market is not licensed, approved or registered with the CFTC and transactions on the ErisX Spot Market are not subject to CFTC rules, regulations or regulatory oversight. ErisX Spot Market may be subject to certain state licensing requirements and operates in NY pursuant to Eris Clearing’s license to engage in virtual currency business activity by the New York State Department of Financial Services.