Trump to sign executive order today: $12 trillion in retirement funds can be invested in Bitcoin
Main Idea
President Donald Trump is set to sign an executive order allowing 401(k) retirement plans to include private equity, real estate, and cryptocurrencies, among other assets, and instructs the U.S. Department of Labor to review ERISA-governed retirement plans.
Key Points
1. The executive order will permit 401(k) plans to include private equity, real estate, and cryptocurrencies.
2. The U.S. Department of Labor is instructed to review retirement plans under the Employee Retirement Income Security Act of 1974 (ERISA).
3. The department must clarify fiduciary rules regarding these new asset inclusions.
4. Bitcoin (BTC) saw a price increase from $114,900 to $115,670 within an hour of the announcement.
5. The regulatory process for implementing these changes could take until 2026, according to an analyst.
Description
President Donald Trump is scheduled to sign an executive order on Thursday, August 7, allowing 401(k) retirement plans to include private equity, real estate , and cryptocurrencies , among other similar assets. The order will instruct the U.S. Department of Labor to review and possibly revise the existing guidelines on the inclusion of alternative investments in retirement plans governed by the Employee Retirement Income Security Act of 1974 (ERISA), as reported by Bloomberg . In addition, the d...
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