- The Department of Labor submitted its final proposed 401(k) investment rule to the White House for review on 5 November, with no firm deadline for approval.
- The proposal would make it easier for retirement plans to consider alternative assets, including cryptocurrencies, under a six-factor investment assessment framework.
- Bitcoin and Ethereum could be among the first crypto assets offered, likely through ETFs or managed funds rather than direct holdings.
- Even after approval, employers and plan managers would decide whether to offer crypto investments, with initial products potentially arriving in 2027 and broader adoption in 2028.
The US might be moving closer to wider crypto adoption in retirement plans with a development now being considered at the White House level. The US Department of Labor (DOL) has submitted the final version of its proposed rule change for 401(k) retirement accounts to the White House’s Office of Information and Regulatory Affairs (OIRA).
A 401(k) is a US employer-sponsored retirement savings plan, broadly comparable to Australia’s superannuation system, although the two operate under different rules. The proposal seeks to make it easier for retirement plans to invest in alternative assets such as crypto, including altcoins. At least in theory.
What’s Happened So Far
In March 2022, the DOL issued guidance which warned retirement-plan managers to exercise extreme caution when including cryptocurrencies in 401(k) investment menus. Although this wasn’t an outright ban, it still carried significant weight.
In May 2025, the Trump administration withdrew that warning and took a more neutral stance. That meant plan managers could now evaluate crypto according to ordinary fiduciary standards.
In August 2025, Trump signed an Executive Order (EO 14330) which directed regulators to facilitate access to alternative investments, including digital assets, in 401(k) retirement plans. It also covered investments outside crypto, from property and infrastructure to private equity and commodities.
Related: US Regulators Question Banks Over Cybersecurity Risks Following Binance Hack
By March 2026, OIRA had finished reviewing the proposed DOL rule and cleared the path for publication and public consultation.
The DOL announced the rule on 30 March, with Federal Register publication on 31 March. It introduced a six-factor framework for selecting retirement investments and proposed legal protections for plan managers following a prudent process.
The public comment period ended in June 2026, and the DOL sent the final-rule package to OIRA for review on 5 November. OIRA’s review is still pending without a listed deadline.
What’s Actually Planned
The proposed rule doesn’t specifically name Bitcoin, Ethereum or any other cryptocurrency, nor does it set a minimum market capitalisation requirement. Under the framework, plan managers would have to assess an investment’s expected performance and costs, how easily it could be sold and accurately valued, whether suitable benchmarks exist and how difficult the investment is to evaluate.
While this leaves the door open for altcoins, it doesn’t mean they will automatically become available in retirement plans. Teresa Goody Guillén, a lawyer quoted by Cointelegraph, expects Bitcoin and Ethereum to be offered first. Their longer trading histories and existing investment products make them easier to assess than smaller cryptocurrencies. Experts also expect exchange-traded funds (ETFs) and managed funds to come before direct crypto holdings, as they are easier to integrate into existing retirement investment systems.
The White House review could take around 90 days, although no firm deadline has been set. Even after the rule is finalised, employers and retirement-plan managers would still need to decide whether to offer crypto investments. Some industry experts expect the first products to become available in 2027, with broader adoption potentially following in 2028.
Read also: Europe’s Largest Asset Manager Amundi Tokenises Stock Index Fund on Ethereum
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
