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

### **Core Content of the Policy**
- **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 **return diversification** and **enhanced competitiveness** through alternative assets.
- **Regulatory Adjustments**: Directs the U.S. Securities and Exchange Commission (SEC) to amend regulations to lower legal barriers for incorporating alternative assets into retirement plans.

### **Policy Background and Impact**
- **Market Background**: The management asset scale of the US 401(k) plan is approximately **$12.5 trillion**, with traditional investments mainly 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 strategic Bitcoin reserves) form a linkage.
- **private sale**: The industry will see a large influx of capital, alleviating 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 Implementation Timeline**
- **July 2025**: News of Trump's plan to sign an executive order first emerged, with the market expecting the order to 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 sparked global financial market attention, and related discussions continue to evolve.