Last Thursday, U.S. President Donald Trump signed an executive order that opens the door for Americans to include cryptocurrencies and other alternative assets in their 401(k) retirement accounts and other fixed contribution plans. This policy shift has sparked optimism and caution within the cryptocurrency industry.
Trump's executive order directs the U.S. Department of Labor to reassess the restrictions on alternative assets such as cryptocurrencies, private equity, and real estate in 401(k) and other fixed contribution plans.
According to data from the Investment Company Institute and the Federal Reserve Board, as of the first quarter of 2025, total U.S. retirement assets amount to $43.4 trillion, with fixed contribution plans, including $8.7 trillion in 401(k)s, accounting for over $12 trillion.
As billions of dollars could flow into cryptocurrencies, industry stakeholders shared their views and reactions to the executive order.
Matt Hougan, Chief Investment Officer of Bitwise, stated that this change could transform the cryptocurrency market by introducing "slow, steady, and consistent buying" from retirement contributions. "The result is higher returns and lower volatility," Hougan added.
Hougan also mentioned that for certain investors, cryptocurrencies belong in 401(k) plans. "Over the past decade, it has been the best-performing asset class in the world and is well-positioned for the next decade," Hougan added.
Ji Hun Kim, CEO of the Crypto Council for Innovation, stated that this decision confirms the status of digital assets in the U.S. financial system. "Americans should have the opportunity and freedom to include these investments in their retirement plans," Kim said.
Kim added that CCI praises the government's ongoing commitment to establishing clear policies to make the U.S. the "crypto capital of the world."
Abdul Rafay Gadit, co-founder of compliance-focused blockchain platform ZIGChain, stated that this executive order will help build the infrastructure needed to support large-scale tokenized investment tools.
"This is important because it is connected to the broader regulatory clarity brought by SEC Chair Atkins," Gadit said. "We are beginning to see the emergence of a unified framework."
Michael Heinrich, co-founder and CEO of 0G Labs, stated that this executive order represents a "watershed moment" for the integration of cryptocurrencies into the financial system. However, he warned that this development could have two sides.
"If done well, this could unlock trillions in retirement capital for BTC and other compliant assets," he said. "If done poorly, there is a risk of political and financial backlash."
Heinrich also emphasized that details are crucial, such as which tokens qualify, how custody will be handled, and what guardrails will be set.
Joshua Krüger, growth director of the dEURO Association, stated that the primary short-term beneficiary could be BTC. Due to BTC's strong institutional acceptance, he predicts it will be the first to be integrated into regulated pension products.
"Asset management companies like BlackRock, Fidelity, and Franklin Templeton are already preparing corresponding products," Krüger said.
He noted that altcoins and smaller cryptocurrency projects may only benefit in the medium term, as they require resilient structures, including regulated products, reliable standards, and increased institutional trust.
Arthur Breitman, co-founder of Tezos, agreed that the scale of the U.S. retirement market could set a precedent for the legitimization of cryptocurrencies but also warned of potential pitfalls.
While Breitman supports giving savers more investment options, he added that many investors may make poor allocation decisions.
"Private assets may trade liquidity for higher returns, which aligns with the long-term vision of retirement accounts," Breitman said.
"However, in practice, it rarely performs that well—high fees, difficult-to-determine pricing, and manager manipulation to mask volatility are common issues."
Not everyone in the financial world welcomed the news. Gold advocate and cryptocurrency critic Peter Schiff warned that this development could worsen what he perceives as a severe retirement savings gap in the U.S.
"Most Americans' savings are far below what is needed for retirement," Schiff wrote on X. "By allowing Americans to gamble their meager retirement savings on BTC and other cryptocurrencies in their 401(k)s, Trump has made this problem worse!"
Related: Report: Trump's cryptocurrency investments have profited $2.4 billion since 2022
Original: “Bitcoin (BTC) Expected to Lead in Trump’s 401(k) Cryptocurrency Order”
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