Wall Street is poised for a seismic shift as Republican lawmakers rally behind a bold push to unlock 401(k) access to alternative assets, signaling game-changing potential for retirement savers across the country.
US Lawmakers Press SEC to Implement Trump’s 401(k) Crypto Directive
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US Lawmakers Urge SEC to Act on Trump Order Allowing Crypto in Retirement Plans
House Committee on Financial Services Chairman French Hill announced on Sept. 22 that a group of Republican lawmakers has endorsed President Trump’s Executive Order 14330, which directs federal regulators to expand investment opportunities within 401(k) plans. The letter of support, also signed by Subcommittee on Capital Markets Chair Ann Wagner and Reps. Frank Lucas, Warren Davidson, Marlin Stutzman, Andrew Garbarino, Mike Lawler, Troy Downing, and Mike Haridopolos, was sent to U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins, urging quick action to carry out the directive.
The lawmakers outlined their reasoning in the letter:
We write to express our support for President Trump’s August 7, 2025, Executive Order 14330 on ‘Democratizing Access to Alternative Assets for 401(k) Investors’ (EO).
“We applaud the EO’s policy ‘that every American preparing for retirement should have access to funds that include investments in alternative assets when the relevant plan fiduciary determines that such access provides an appropriate opportunity … to enhance the net risk-adjusted returns,'” the lawmakers stated.
The EO explicitly defines “alternative assets” to include “holdings in actively managed investment vehicles that are investing in digital assets.” This means it is specifically aimed at expanding access for 401(k) plan participants to investment options that include cryptocurrencies and other digital assets.
The lawmakers further underscored the importance of regulatory adjustments to allow plan fiduciaries to consider these assets when they serve the best interests of retirement savers. The correspondence also emphasized potential benefits for long-term retirement planning:
In their letter, the lawmakers praise the executive order for its potential to help Americans enhance their retirement savings and encourage the SEC to work with the Department of Labor to revise its regulations and guidance. The goal is to make these investments accessible to millions of Americans to prepare for retirement.
Alongside this, the letter asked the SEC to review bipartisan legislation in the 119th Congress that could redefine accredited investor standards. While critics often caution that alternative investments carry heightened risk for inexperienced savers, advocates argue that diversification through broader access could strengthen retirement portfolios over time.
