Trump to Open $9 Trillion Retirement Market to Crypto and Alternatives

According to the Financial Times, President Donald Trump is preparing to sign an executive order that could allow Americans to include cryptocurrencies, gold, and private equity in their 401(k) retirement plans, a move that could reshape long-term savings for millions.

According to sources briefed on the matter, the order could be signed as early as this week. It will direct regulators to identify and eliminate barriers preventing professionally managed retirement plans from offering these alternative assets.

Crypto in Retirement: A New Frontier

The order would enable digital assets like Bitcoin and Ethereum, along with precious metals and private capital funds, to join traditional stock and bond offerings in tax-deferred retirement accounts.

Trump’s push builds on prior actions taken by his administration. In May, the Department of Labor reversed a Biden-era rule discouraging crypto in 401(k) plans. The new order is seen as a major step toward mainstreaming crypto investments.

“President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future,” the White House told the Financial Times.

Ripple Effect for Asset Managers

The change could unlock a wave of new demand for private capital groups like Blackstone, Apollo, and BlackRock, which have struggled to raise funds from pensions and endowments in recent years. These firms hope to tap into hundreds of billions of dollars in new assets from retirement savers.

Major players are already preparing:

• Blackstone has partnered with Vanguard.
• Apollo and Partners Group plan to offer funds via Empower, a large 401(k) sponsor.
• BlackRock is working with Great Gray Trust on similar efforts.

The order will also ask the Department of Labor to consider a “safe harbor” provision to protect 401(k) administrators from legal risks when offering less liquid investments.

Political Backing and Legislative Momentum

This executive order follows a surge of legislative progress on crypto. The House of Representatives recently passed three landmark bills:

• GENIUS Act (Stablecoin regulation)
• CLARITY Act (Market structure reform)
• Anti-CBDC Surveillance Act (Limiting government control over digital currency)

The GENIUS Act is now headed to Trump’s desk. The others await Senate deliberation.

Trump has long promoted crypto as a key plank in his economic strategy. He credits the industry with helping secure his 2024 election victory and has actively supported scaling back enforcement actions against major crypto players.

His family has also invested heavily in the sector, with Trump Media & Technology Group reportedly purchasing over $2 billion in crypto, including Bitcoin, and launching its own stablecoin.

Broader Strategy: Making the U.S. a Crypto Hub

The move to open retirement plans is part of a broader federal strategy to integrate crypto across industries. Recent agency actions reflect that:

• The FHFA directed Fannie Mae and Freddie Mac to explore using crypto in mortgage services.
• The OCC confirmed that national banks can participate in crypto custody and stablecoin activities.

With this executive order, Trump signals that he intends to make the U.S. the global leader in crypto policy, starting with everyday Americans’ retirement savings.

Date	Initiative	Description	Impact
Jan 23, 2025	Exec Order: Digital Finance Leadership	Revoked anti-crypto policies, created Presidential Working Group on Digital Assets	Signaled shift to pro-crypto policy, legal clarity push
Mar 6, 2025	Strategic Bitcoin Reserve	Launched Bitcoin reserve, banned Treasury sell-off, created Digital Asset Stockpile	Made U.S. largest BTC state holder; boosted investor confidence
Mar 7, 2025	White House Crypto Summit	Gathered crypto industry and regulators, OCC clarified bank crypto custody rights	Elevated industry voice, coordinated bank-level crypto engagement
Apr 2025	SEC & CFTC Appointments	Appointed Paul Atkins (SEC), Brian Quintenz (CFTC)—both pro-crypto	Created regulatory clarity, pro-innovation leadership
Mid-2025	CBDC Ban & Crypto-friendly Legislation	Banned CBDCs, enabled crypto in national bills incl. defense funding	Strengthened legal protection for crypto industry
Mid-Jul 2025	GENIUS Act (Stablecoin Regulation)	Passed bipartisan stablecoin law with audits, reserves, and consumer protection	Legitimized stablecoins; broad bipartisan support
Early 2025	401(k) Crypto Access	Backed legislation to allow crypto in retirement accounts	Opened up $9T market to crypto; institutional exposure rising
Early 2025	Appointment of Crypto Czar & Allies	Named David Sacks as Crypto Czar, unified AI & crypto policy strategy	Unified leadership; high-level access for crypto firms