Bitcoin jumped 2%, going over $11,600, and Ethereum was up 7% to around $3,800. That surge coincided with rising news that former President Donald Trump was about to sign an executive order. This executive order would help remove obstacles that currently prevent employees from adding these alternative assets to their retirement accounts. The combined market capitalization of all cryptocurrencies increased nearly 2% to $3.9 trillion.
Trump's executive order directs the Labor Department to collaborate with regulators, including the Treasury and the Securities and Exchange Commission. The overarching goal here should be to coordinate regulations between multiple agencies, making it easier for people to get these alternative assets into their retirement plans.
This new endeavor is a notable return to a policy that Trump first launched in his first term and that President Joe Biden rescinded. James Butterfill, CoinShares’ head of research, expects more leg-up in Bitcoin and other digital assets as a consequence.
This move effectively opens access to Bitcoin and other cryptocurrencies for retirement investors. - James Butterfill
At the time, the 401(k) market was close to $8.7 trillion in assets, as of the first quarter of 2025. At that time, according to the Investment Company Institute, Americans held $12.2 trillion in 401(k)s.
For Jake Ostrovskis, an OTC trader at Wintermute, this was more than just a welcome addition — it was a big deal. Ryan Rasmussen, head of research at Bitwise, spoke with Fortune about what the executive order means for the future.
This increase in the crypto and equities markets was almost perfectly timed with news that Trump would indeed sign the executive order. The S&P 500 opened slightly higher, but was down more than half a percent by late morning.
