US Lawmakers Push SEC to Approve Trump’s Crypto-in-401(k) Plan

9/23/2025
3min read
Denislav Manolov's Image
by Denislav Manolov
Crypto Expert at Airdrops.com
9/23/2025
3min read
Denislav Manolov's Image
by Denislav Manolov
Crypto Expert

A Letter to the SEC for Swift Action

On September 22, 2025, a bipartisan group of U.S. lawmakers led by House Financial Services Committee Chairman French Hill pressed the Securities and Exchange Commission (SEC) to act quickly on President Donald Trump’s executive order that would allow cryptocurrencies, private equity, and real estate in 401(k) retirement accounts.

In their letter to SEC Chair Paul Atkins, the lawmakers said the move would unlock trillions in retirement assets, expanding investment options for millions of Americans. The letter highlighted the potential for 90 million Americans to gain access to alternative investments that were previously out of reach.

“We are hopeful that such actions will help the 90 million Americans who are currently restricted from investing in alternative assets to secure a dignified, comfortable retirement,” the lawmakers wrote.

Trump’s Executive Order Reshapes Retirement Options

Signed on August 7, 2025, Trump’s executive order marked a major shift in U.S. retirement planning policy. By opening the door to crypto and other alternative investments in defined-contribution plans, the policy aims to modernize retirement savings strategies.

If implemented, the Department of Labor will have to revise its regulatory framework around alternative assets, clarifying the government’s position on allowing private allocations of funds into crypto via 401(k) plans.

Supporters say this could boost retirement savings by giving workers new asset classes that potentially outperform traditional markets. Critics, however, warn of the risks of exposing retirement accounts to volatile crypto assets without strong guardrails.

Private Equity and Private Debt Gain Interest

The executive order has already sparked growing interest in private equity and private debt within retirement plans. According to Schroders’ 2025 U.S. Retirement Survey, nearly 45% of workplace retirement participants said they would invest in these options if available, up sharply from 36% in 2024.

Among those interested, a striking 77% said they would increase their contributions if private assets were added to their plans. But the survey also revealed that fewer than one-third of participants expect such access within five years, highlighting the uncertainty surrounding implementation.

“For decades, traditional pension plan portfolios have mixed public and private investments in the same portfolio to meet their obligations to retirees,” said Deb Boyden, head of U.S. defined contribution at Schroders.
She added that Trump’s order could let everyday Americans “combine the benefits of both asset classes to better prepare for retirement.”

The Risk Perception Problem

While enthusiasm is growing, many workers remain skeptical. The Schroders survey found that most participants have limited knowledge about private assets and often view them as too risky for retirement savings.

Lawmakers say this underscores the importance of regulatory clarity. They argue that with proper oversight, crypto and private assets could be made as safe and transparent as traditional investments.

A Defining Test for Retirement Policy

For now, all eyes are on the SEC and the Department of Labor. If they follow Trump’s directive, the U.S. could soon see a revolution in retirement investing, giving 401(k) participants exposure to crypto alongside stocks and bonds.

The question is whether regulators will move quickly enough to turn this political momentum into real options for savers. If successful, the shift could redefine how Americans prepare for retirement in the digital age.

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