TL;DR
- Public Holdings acquired Alto IRA’s crypto business for $65 million in cash and stock, raising its assets under management to approximately $600M.
- The integration will add over 250 cryptocurrencies to the company’s IRA accounts, surpassing Fidelity’s offerings, which currently allow only Bitcoin.
- The company aims to attract middle-aged investors with IRAs that combine traditional and digital assets.
Public Holdings strengthened its presence in the investment market with the acquisition of Alto IRA’s crypto business for $65 million, a deal combining cash and stock and increasing its assets under management to around $600 million.
The acquisition is part of Public’s strategy to integrate traditional and digital assets into a single ecosystem that complies with current market regulations. It targets middle-aged investors interested in diversifying their retirement portfolios.
Public Targets Diversification to Challenge Fidelity
The acquired business belongs to Alto, one of the few companies that allow direct cryptocurrency investments within IRA accounts. The transaction adds more than 250 cryptocurrencies, a notable expansion compared to Fidelity, whose crypto retirement product only supports Bitcoin.
Public expects to complete the full integration of Alto Crypto accounts in 2026, while Alto will continue operating its alternative investment line, including private credit and venture capital, and will act as a service provider for the new structure.
According to Public co-founder Leif Abraham, IRAs offer a key advantage for long-term crypto believers, as they allow position adjustments without immediate tax consequences. The company seeks to attract a more mature, higher-net-worth audience than platforms like Robinhood, with an average age of 38 and a preference for diversification and greater financial sophistication.
Regulatory Uncertainty
The company aims to build a comprehensive infrastructure that combines stocks, bonds, derivatives, and crypto assets under a unified regulatory framework. This integration also strengthens Public’s position relative to Fidelity and other competitors with more limited offerings.
The crypto IRA market remains constrained by regulatory uncertainty in the United States. Although the Trump administration issued an executive order to broaden the range of assets available in 401(k) plans, the corresponding regulations have not yet taken effect. Nevertheless, Public is positioning itself ahead of these changes to become one of the first players capable of offering diversified crypto retirement solutions within an institutional framework.
