Trump Plans to Allow Crypto, Gold, and Private Equity in 401(k) Retirement

U.S. President Donald Trump is preparing to issue an executive order that would permit "alternative investments" such as cryptocurrencies, gold, and private equity to be included in 401(k) retirement plans, according to Financial Times.

The order would direct regulators to remove existing barriers, paving the way for these assets to be added to professionally managed retirement portfolios. If enacted, it would broaden 401(k) investment options to include digital assets, precious metals, private loans, corporate takeovers, and infrastructure projects. The proposal aligns with Trump’s push to bring crypto into the financial mainstream.

U.S. Retirement Systems Shift Toward Crypto and Emerging Sectors

In May, the U.S. Department of Labor (DOL) withdrew its 2022 guidance that warned against including cryptocurrencies in retirement plans. The Employee Benefits Security Administration stated that the prior guidance conflicted with the Employee Retirement Income Security Act (ERISA) and departed from the department’s usual neutral, principles-based stance on fiduciary decisions.

The 401(k) remains one of the most widely used retirement savings vehicles in the U.S., allowing workers to invest part of their income in tax-deferred, publicly traded assets. According to The Block, the total value of 401(k) accounts reached approximately $8.7 trillion as of March 2025. Some states have already begun to embrace alternative investments. Michigan's retirement system holds about $6.6 million in Bitcoin ETFs and $10 million in Ethereum ETFs. Wisconsin has invested $163 million in Bitcoin ETFs.

While not directly related to crypto, other public retirement systems have been diversifying into emerging sectors. According to Barron’s, the Ohio Public Employees Retirement System (OPERS), one of the largest U.S. pension funds, disclosed in its Q2 2025 filing that it added 171,441 shares of Palantir and 21,499 shares of Strategy, while reducing its holdings in Lyft by 58,881 shares. This reflects a broader trend toward exploring new growth areas within retirement portfolios.

Looking Ahead

If approved, Trump’s proposed executive order could reshape how Americans approach retirement planning, raising both opportunities and concerns. As regulators review the risks and rewards of including crypto and other alternative assets in 401(k) plans, financial advisors and retirement savers alike will be watching closely.