#特朗普允许401(k)投资加密货币#**Trump has signed an executive order allowing U.S. 401(k) retirement savings plans to invest in Crypto Assets, private sale, and other alternative assets**. Here is a detailed analysis:

### **Core Policy Content**
- **Allowed Investment Scope**: 401(k) plan can invest in **Crypto Assets** (such as Bitcoin, Ethereum), **private sale**, **real estate**, **gold**, and other alternative assets.
- **Policy Objective**: Provide more investment options for American workers, achieve **diversification of returns** and **enhancement of competitiveness** through alternative assets.
- **Regulatory Adjustment**: Indicates that the U.S. Securities and Exchange Commission (SEC) will revise regulations to lower legal barriers for alternative assets to be included in retirement plans.

### **Policy Background and Impact**
- **Market Background**: The total assets managed under the US 401(k) plan are approximately **$12.5 trillion**, with traditional investments primarily in stocks and bonds.
- **Industry Impact**：
- **Crypto Assets**：Policies and Trump’s initiatives to promote the development of the Crypto Assets industry (such as establishing a strategic Bitcoin reserve) are interconnected.
- **Private Equity**: The industry will see a large influx of capital, alleviating the long-term funding needs.
- **Risks and Controversies**:
- Alternative assets have **poor liquidity**, **complex valuation**, which may increase the **litigation risk** for retirement plan managers.
- Some experts believe that private sale equity fees are high and in most cases cannot outperform the stock market.

### **Policy Advancement Timeline**
- **July 2025**: News of Trump planning to sign an executive order first emerged, with the market anticipating that the order could be issued as early as July.
- **August 7, 2025**: Trump officially signs an executive order allowing alternative assets to enter the 401(k) plan.
- **August 8, 2025**: The policy has drawn global financial market attention, with related discussions continuing to ferment.