Cryptocurrencies and crypto-related stocks rallied Thursday morning as investors anticipated a sweeping executive order from President Trump that would allow alternative assets—including crypto and private equity—into Americans’ 401(k) retirement plans.
Bitcoin (BTC-USD) rose over 2% by 9:00 a.m. ET, with ether (ETH-USD) and XRP (XRP-USD) each gaining more than 4%. Shares of Coinbase (COIN), the largest publicly traded crypto exchange, jumped nearly 3%, while Robinhood (HOOD) and MicroStrategy (MSTR) posted gains of more than 1.5%.
The executive order, was expected to be signed around noon ET, will reportedly direct the Securities and Exchange Commission (SEC) to ease regulatory pathways for adding alternative assets to retirement portfolios. The move would mark a major shift in how Americans can invest for retirement—traditionally limited to stocks, bonds, and index funds.
“The order directs the Securities and Exchange Commission to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidance,” the White House official said on condition of anonymity.
The order directs the Labor Secretary to consult with her counterparts at the Treasury Department, the SEC and other federal “regulators to determine whether parallel regulatory changes should be made at those agencies,” the official said.
Such a move would be a boon for big alternative asset managers such as Blackstone, KKR. and Apollo Global Management by opening the $12 trillion market for retirement funds, known as defined contribution plans, to their investments.
Large asset managers like BlackRock and KKR have voiced support, with BlackRock CEO Larry Fink writing, “Private assets are legal in retirement accounts. They’re beneficial. And they’re becoming increasingly transparent.” The firm has emphasized that alternatives such as real estate, crypto, and infrastructure can help hedge against market downturns.
The announcement follows July’s “Crypto Week” on Capitol Hill, where lawmakers advanced several key crypto bills including the Clarity Act, the GENIUS Act (signed in July), and the Anti-CBDC Act—signaling growing institutional support for integrating digital assets into the financial system.
If enacted, Trump’s order could unlock trillions of dollars in retirement funds, opening the door for a new wave of crypto adoption among long-term investors.
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