Trump Backs 401(k) Access to Crypto, Gold, and Alternative Assets
US President Donald Trump has announced a major policy shift aimed at allowing Americans to invest retirement savings in cryptocurrencies, gold, real estate, private equity, and other alternative asset retirement plans through 401(k) accounts.
On Thursday, Trump ordered the Department of Labor to review existing rules within 180 days that currently discourage employers from offering such investments. The proposal could give workers access to opportunities once available only to wealthy investors and major financial institutions, while opening new funding streams for the alternative investment sector.
From Traditional Savings to Crypto-Friendly 401(k) Accounts
Most Americans rely on 401(k) retirement accounts, where employees contribute a portion of their salary—often matched by employers—rather than traditional pensions. Historically, government rules have required retirement plan providers to prioritize lower-cost, lower-risk investments. This has led many employers to avoid high-fee and less liquid options like private equity and cryptocurrency.
With this order, Trump is pushing for greater flexibility, enabling individuals to invest in crypto through 401(k) accounts and diversify their portfolios beyond traditional stocks and bonds.
Investment Firms Already Preparing for Change
Major asset managers such as State Street and Vanguard have already partnered with Apollo Global and Blackstone to launch private equity-focused retirement funds. If approved, these moves could pave the way for similar crypto-inclusive options.
The Department of Labor recently reversed its 2022 guidance, which urged “extreme care” before adding cryptocurrency to retirement savings plans. During Trump’s first term, similar guidance was introduced to encourage private equity in 401(k) accounts, but adoption was slow due to legal concerns and was later rolled back by President Biden.
Supporters See Opportunity, Critics Warn of Risks
Supporters argue that expanding investment choices—including crypto in retirement accounts—can help Americans grow their savings and adapt to modern markets. Critics, however, warn that alternative assets can be volatile, carry higher fees, and be harder to sell in emergencies.
While any official rule changes are unlikely to take effect immediately, the shift signals a potential transformation in US retirement savings—one that could bring crypto and alternative assets into the mainstream for everyday investors.