Washington, D.C. – A group of nine U.S. lawmakers has urged the Securities and Exchange Commission (SEC) to swiftly act on President Donald Trump’s August executive order that seeks to expand access to alternative assets, including cryptocurrencies, in 401(k) retirement plans.
In a letter sent Monday to SEC Chair Paul Atkins, the lawmakers — led by House Financial Services Committee Chairman French Hill and Capital Markets Subcommittee Chair Ann Wagner — requested “swift assistance” in implementing the policy. They emphasized that the SEC should make any necessary regulatory adjustments to support the Department of Labor in opening retirement plans to crypto and other alternative assets.
“We are hopeful that such actions will help the 90 million Americans currently restricted from investing in alternative assets to secure a dignified, comfortable retirement,” the lawmakers wrote.
🇺🇸 NEW: U.S. lawmakers are urging the SEC to implement Trump’s executive order that would allow 401(k) retirement plans to include Bitcoin and other crypto investments. pic.twitter.com/vUYMGRlEvN
Trump’s executive order, signed in August, directs federal agencies to democratize access to alternative assets by allowing participant-directed retirement accounts to include crypto, private equity, and other non-traditional investments. The order also called for a review of accredited investor and qualified purchaser rules, which currently restrict retail participation.
This policy shift follows the May reversal of the Department of Labor’s anti-crypto guidance, which had previously warned fiduciaries to exercise extreme caution when adding crypto exposure to retirement plans.
Potential $100 Billion Crypto Inflow
The stakes are significant: the U.S. 401(k) market holds approximately $9.3 trillion in assets. Even a modest 1% allocation to crypto could channel $93 billion into digital assets, dwarfing the $60.6 billion that has flowed into U.S. spot Bitcoin ETFs since January 2024.
Supporters argue that including crypto in retirement accounts could enhance long-term, risk-adjusted returns, especially as digital assets become a mainstream investment class.
Public Pension Funds Testing Crypto Waters
Some state-run pension funds have already dipped into crypto exposure through ETFs.
The Michigan Retirement System recently purchased $10.7 million worth of ARK 21Shares Bitcoin ETF shares and retained 460,000 shares of Grayscale Ethereum Trust, valued at $15.6 million.
Conversely, the Wisconsin Investment Board sold its position in BlackRock’s iShares Bitcoin Trust ETF earlier this year after being one of the first public pension funds to invest.
If implemented, Trump’s retirement initiative could reshape U.S. retirement investing by legitimizing crypto as a mainstream allocation in 401(k) plans. However, the SEC’s response will be critical in determining how quickly — and under what safeguards — this policy becomes reality.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.
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