Financial Times reported today that President Trump is preparing to sign an executive order that would allow 401 (K) pension plans to invest in alternative activities such as gold, private equity and cryptocurrencies such as Bitcoin.
“Donald Trump is preparing to open the United States pension market from $ 9tn to investments in cryptocurrency, gold and private equity in a move that would stimulate a radical change in the way the savings of the Americans are managed,” said the Financial Times.
According to Financial Times, the order is foreseen this week and will direct the federal regulators to remove the obstacles that prevent 401 (K) plans to include these non -traditional investments in managed funds. This includes digital activities, metals, private loans, infrastructure offers and corporate purchasing funds.
“President Trump undertakes to restore prosperity for everyday Americans and to safeguard their economic future,” said the White House in a statement to the Financial Times. “No decision should be considered official, however, unless they come from President Trump himself.”
Trump’s move is based on the previous efforts of his administration to relieve Bitcoin and Crypto regulations. In May, the Department of Labor reversed a rule that discouraged Bitcoin and other cryptocurrencies in retirement plans. Trump also supported the recent Bitcoin and other invoices relating to the cryptocurrencies approved by the Chamber and has attributed the industry by helping him to win the 2024 elections.
The executive order could benefit from the main private investment companies such as Blackstone, Apollo and BlackRock, reported the Financial Times, which have all applied much of their future growth on the investment of money on behalf of pension savers.
“Blackstone hit a partnership with Vanguard, while Apollo and Partners Group are among the companies that will offer investments from Empower, a large sponsor of the 401k plan. Blackrock has already started working with Great Gray Trust, a manger of third -party retirement saving plans,” said Financial Times.