Trump set to approve crypto investments in 401k retirement plans, says FT
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The news: US President Donald Trump is preparing to open the USD9 trillion ($13.9 trillion) US retirement market to cryptocurrency investments, gold and private equity, The Financial Times reported citing three people briefed on the plans.
The context: Trump is expected to sign an executive order as soon as this week that would open up 401k plans to alternative investments beyond traditional stocks and bonds, the FT said, in a move that would spur a radical shift in the way Americans’ savings are managed.
The order would instruct Washington regulatory agencies to investigate the remaining hurdles needed to allow such investments in professionally managed funds used by 401k savers, according to the report.
The Trump administration has already begun loosening rules, including rescinding a Biden-era effort that discouraged administrators from offering crypto in retirement accounts.
The president is backing a trio of crypto-related bills passed by the House on Thursday (Friday AEST). Two of them still need to pass the Senate. Trump has credited the industry with helping him win the 2024 election, and his family’s company has purchased more than USD2 billion in digital assets, according to FT data.
The source: The Financial Times
