The Labor Department on Monday proposed a rule, following an executive order from President Donald Trump, to expand access to digital assets in retirement plans. The move could unlock trillions in 401(k) investments and accelerate institutional crypto infrastructure.
The White House has cleared a Labor Department proposal that could broaden access to crypto-linked investments within 401(k) retirement plans. The move marks a regulatory green light to begin formal rulemaking, though protections and details remain to be worked out.
Fintech 401(k) platform Basic Capital will offer VanEck’s crypto ETFs to retirement plans, giving savers potential digital-asset exposure through familiar ETF wrappers. The move underscores growing acceptance of crypto in tax-advantaged accounts.
SEC Chair Paul Atkins said the time is right to permit cryptocurrency in 401(k) retirement plans, noting necessary custody and valuation conditions are now in place. His support signals growing regulatory confidence that could open retirement accounts to digital-asset exposure.
Sen. Elizabeth Warren criticized a U.S. policy allowing cryptocurrencies in 401(k) and other defined‑contribution plans, warning Americans could "lose big" if safeguards are not put in place. Her remarks mark a sharp pushback that could spur regulatory and legislative scrutiny.
Congress has urged the SEC to revise rules so Bitcoin and other cryptocurrencies can be offered as investment options in 401(k) retirement plans, arguing savers should have access to long-term crypto exposure. The request sets up a regulatory review with potential implications for custody, fiduciary duties, and new retirement products.