Springfield, Mass., August 11, 2021 – Massachusetts Mutual Life Insurance Company (“MassMutual”) announced today that its broker-dealer, MML Investors Services (MMLIS), has entered into a placement agent agreement with NYDIG, a leading provider of technology and investment solutions, for a bitcoin fund. Select MMLIS financial professionals will offer qualifying clients access to the fund, which provides an alternative and efficient way to invest in bitcoin.
Consistent with MassMutual’s ongoing focus on innovation and diversification, this announcement follows the equity investment MassMutual made in NYDIG last year, along with the investment of $100 million in bitcoin for its general investment account. MassMutual continues to believe that cryptocurrencies are increasingly becoming part of the financial landscape and is working on a number of initiatives to better serve its clients and financial professionals.
“As MassMutual explores ways to integrate cryptocurrency into different areas of its business, MMLIS saw a growing demand from our financial professionals and their clients to gain bitcoin exposure,” said Daken Vanderburg, Head of Investments at MML Investors Services. “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.”
“MassMutual continues to innovate and to lead the pack when it comes to Bitcoin,” added Robert Gutmann, co-founder and CEO of NYDIG. “It was one of the first companies to announce an allocation to bitcoin, and has served as a powerful strategic partner. MMLIS is one of the largest wealth management firms in the country. We are excited to partner with the MMLIS team to provide its financial professionals and investors with access to bitcoin exposure.”