White House Review Greenlights Proposal for Crypto in 401(k) Plans

The White House’s Office of Information and Regulatory Affairs (OIRA) has completed its review of a Department of Labor (DOL) proposal that could reshape how 401(k) fiduciaries evaluate alternative assets, including digital-asset exposure.

The OIRA’s website shows the review concluded on March 24, with the action marked “consistent with change” and the proposal classified as “economically significant.” The DOL is now expected to publish the proposed rule for a standard 60-day public comment period, which is usually followed by revisions and the issuing of a final rule.

The proposal follows President Donald Trump’s Aug. 7, 2025, executive order directing federal agencies to expand access to alternative assets in 401(k) plans, including exposure to digital assets through certain investment vehicles.

The order directed the DOL to reevaluate restrictions around alternative assets in defined-contribution plans, including digital assets, private equity and real estate. It also called for inter-agency collaboration between the US Treasury Department and the Securities and Exchange Commission on supporting rule changes.

The completed review clears an interagency hurdle for a proposal that could widen the path for alternative assets in US defined-contribution retirement plans.

Crypto-linked exposure moves closer to 401(k) market

On May 28, 2025, the DOL rescinded a 2022 compliance release that urged fiduciaries to be “extremely cautious” when considering crypto for 401(k) retirement plans, signaling a broader shift in the federal government’s stance toward retirement-plan exposure to digital assets. 

The US retirement market reached a record $48.1 trillion in financial assets on September 30, 2025, according to a report by the Investment Company Institute (ICI).

Indiana advances crypto retirement access

Other US states have launched their own legal initiatives to make digital assets a retirement plan asset.

Related: Major Australian pension fund mulls crypto offerings amid growing demand

On Feb. 25, Indiana lawmakers passed a bill that would require certain state retirement and savings plans to offer a self-directed brokerage option with at least one crypto investment option by July 1, 2027.

The bill would allow Indiana citizens to hold Bitcoin (BTC) and digital assets as part of their retirement plans for the first time. 

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