Morning Minute: Crypto in Your 401(k)s Is Finally Happening
Main Idea
U.S. President Donald Trump signed an executive order allowing cryptocurrencies and digital assets to be held in 401(k) retirement accounts, potentially unlocking significant capital for the crypto market.
Key Points
1. The executive order directs retirement providers like Fidelity and Schwab to offer crypto-focused funds, trusts, and ETFs as plan options.
2. The U.S. retirement market holds over $12.5 trillion in 401(k) assets, with even a 1% allocation to crypto representing $125B in new capital.
3. 401(k) investments in crypto are considered long-duration and less price-sensitive, making them 'sticky' capital.
4. Market reactions included gains in major cryptocurrencies like BTC, ETH, and XRP, with XRP rising 8% after its legal battle with the SEC ended.
5. Other notable crypto developments included a $5B ETH Treasury fundraise by Fundamental Global Inc and a surge in memecoin trading volumes.
Description
Crypto majors rallied (unsurprisingly) on the news—though with a surprising frontrunner.
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