Trump Expected to Open $9 Trillion Retirement Market to Crypto Investments
The post Trump Expected to Open $9 Trillion Retirement Market to Crypto Investments appeared on BitcoinEthereumNews.com. President Donald Trump plans to sign an executive order this week that would allow millions of Americans to invest their retirement savings in Bitcoin, gold, and private equity for the first time. The move could transform how 70 million workers build wealth for retirement. The Financial Times first reported that Trump will direct federal agencies to remove barriers preventing 401(k) plans from including cryptocurrencies and other alternative investments. Three sources familiar with the plans confirmed the executive order could be signed as early as this week. The decision affects the massive U.S. retirement system. Americans currently hold $8.9 trillion in 401(k) plans across more than 715,000 workplace programs, according to the Investment Company Institute. Right now, most workers can only invest their retirement money in traditional stock and bond mutual funds. Breaking Down Investment Barriers The executive order would instruct the Department of Labor and Securities and Exchange Commission to clear regulatory roadblocks. Plan administrators would gain access to digital assets like Bitcoin and Ethereum, precious metals including gold, and private equity investments normally reserved for wealthy investors. “President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future,” a White House spokesperson told reporters. However, they cautioned that “no decisions should be deemed official unless they come from President Trump himself.” This builds on changes Trump’s administration already made. In May, the Labor Department removed Biden-era guidance that discouraged retirement plans from offering crypto investments. That 2022 guidance had warned plan managers to use “extreme care” before adding digital assets to investment menus. Major Financial Firms Position for Change Wall Street giants are preparing for potential changes. BlackRock has partnered with retirement plan managers to bring private investments to everyday savers. Apollo Global Management and Blackstone are working with major 401(k) providers to create new…
The post Trump Expected to Open $9 Trillion Retirement Market to Crypto Investments appeared on BitcoinEthereumNews.com.
President Donald Trump plans to sign an executive order this week that would allow millions of Americans to invest their retirement savings in Bitcoin, gold, and private equity for the first time. The move could transform how 70 million workers build wealth for retirement. The Financial Times first reported that Trump will direct federal agencies to remove barriers preventing 401(k) plans from including cryptocurrencies and other alternative investments. Three sources familiar with the plans confirmed the executive order could be signed as early as this week. The decision affects the massive U.S. retirement system. Americans currently hold $8.9 trillion in 401(k) plans across more than 715,000 workplace programs, according to the Investment Company Institute. Right now, most workers can only invest their retirement money in traditional stock and bond mutual funds. Breaking Down Investment Barriers The executive order would instruct the Department of Labor and Securities and Exchange Commission to clear regulatory roadblocks. Plan administrators would gain access to digital assets like Bitcoin and Ethereum, precious metals including gold, and private equity investments normally reserved for wealthy investors. “President Trump is committed to restoring prosperity for everyday Americans and safeguarding their economic future,” a White House spokesperson told reporters. However, they cautioned that “no decisions should be deemed official unless they come from President Trump himself.” This builds on changes Trump’s administration already made. In May, the Labor Department removed Biden-era guidance that discouraged retirement plans from offering crypto investments. That 2022 guidance had warned plan managers to use “extreme care” before adding digital assets to investment menus. Major Financial Firms Position for Change Wall Street giants are preparing for potential changes. BlackRock has partnered with retirement plan managers to bring private investments to everyday savers. Apollo Global Management and Blackstone are working with major 401(k) providers to create new…
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