Trump plans to issue an executive order allowing cryptocurrencies to be included in 401(k) retirement plans
Powered by ChatGPTOn July 18, according to the Financial Times, U.S. President Trump plans to issue an executive order allowing "alternative investments" such as cryptocurrencies, gold, and private equity to be included in 401(k) retirement plans. The order will require regulators to review existing barriers, paving the way for these assets to enter professionally managed retirement funds. The U.S. Department of Labor withdrew its previous warning against including cryptocurrencies in investment strategies in May. As of March of this year, the size of U.S. 401(k) retirement funds is approximately $8.7 trillion. Several states have taken action, such as Michigan, which holds approximately $6.60 million in Bitcoin ETF and $10.00 million in Ethereum ETF investments in its retirement system, while Wisconsin holds $163.00 million worth of Bitcoin ETF. [TechFlow]