Trump Administration Plans to Unlock Crypto Investments for Millions of 401(k) Savers

U.S. President Donald Trump is preparing to sign an executive order that would open up access to cryptocurrency investments as part of the 401(k) retirement savings program. The document could be issued as early as this week, according to the Financial Times, citing three people familiar with the matter.

U.S. Pension (401k) Funds Market. Source: researchandmarkets

The new investment options will cover a wide range of alternative assets. In addition to digital currencies, Americans will be able to direct their pension savings into metals, infrastructure funds, and private loans. This approach will dramatically expand the traditional list of instruments, which has so far been limited to stocks and bonds.

Regulators will receive clear guidance

The executive order will instruct Washington regulators to explore the best ways to integrate cryptocurrencies into 401(k) plans. Agencies will have to identify and address any remaining obstacles to the initiative.

Bitcoin has delivered higher annual returns than the Nasdaq in five of the past six years. (Source: Curvo)

However, White House Press Secretary Kush Desai emphasized in a statement to Cointelegraph that no decisions should be considered official unless they are directly announced by President Trump.

“President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future. No decisions should be deemed official, however, unless they come from President Trump himself,” Desai said.

A departure from Biden’s policies

The current initiative furthers the liberalization of retirement investments. Last May, the U.S. Department of Labor rescinded Biden-era recommendations that restricted the inclusion of cryptocurrencies in 401(k) plans. The previous Democratic administration had been cautious about digital assets, favoring more traditional instruments such as stocks and bonds.

Fidelity was among the first to offer clients crypto investments

Fidelity, a financial firm with $5.9 trillion in assets under management, introduced a new retirement account in April 2025, allowing Americans to invest in cryptocurrencies. Such moves demonstrate major market players’ willingness to expand investment opportunities.

The scope of the retirement market

A 401(k) plan is a retirement savings program offered by many U.S. employers. Employees can direct a portion of their paychecks into pre-tax investment funds. Investments typically focus on mutual funds, exchange-traded funds, stocks, and bonds.

As of September 30, 2024, the 401(k) market included more than 715,000 plans with $8.9 trillion in assets.

International practice

The trend of including cryptocurrencies in pension portfolios is spreading beyond the U.S. 

Last November, U.K. pension specialist Cartwright reported that an “unnamed scheme” had allocated 3% of its pension fund assets to Bitcoin.

Japan’s government pension investment fund also explored Bitcoin as a potential diversification tool in March 2025.