US lawmakers pressed the SEC to move on the Trump crypto retirement plan. They sent a letter on Monday to SEC Chair Paul Atkins.
They asked him to help implement the executive order on alternative assets in 401(k) plans.
The letter came from nine lawmakers, including French Hill and Ann Wagner. It urged the SEC to coordinate with the Labor Department. It asked for any needed changes to regulations and guidance.
They tied the request to access rules for accredited investor and qualified purchaser categories.
The executive order asked regulators to consider these standards. It framed the effort as opening 401(k) menus to crypto within existing fiduciary duties.
Executive order and access to alternative assets in 401(k)
The executive order from August set the direction for alternative assets in 401(k) plans. It named crypto as part of the potential menu. It called for steps that could make access simpler for plan participants.
The SEC and the Labor Department sit at the center of this task. The order asks them to align rules for plan sponsors and recordkeepers. It leaves selection and monitoring to fiduciaries under current law.
The US lawmakers highlighted a key sentence in their letter.
“Every American preparing for retirement should have access to funds that include investments in alternative assets when the relevant plan fiduciary determines that such access provides an appropriate opportunity… to enhance the net risk adjusted returns,” they wrote.
The line connects access with fiduciary review, not with product endorsement.
Labor Department reversal and next steps for the SEC
In May, the Labor Department reversed prior anti crypto guidance. That earlier guidance had warned fiduciaries to use extreme caution with crypto. The reversal removed a major barrier to evaluation inside plans.
After that step, plan sponsors can assess alternative assets under standard rules. They must still weigh risks, fees, liquidity, and operations. Even so, the new stance allows a normal due diligence path.
The US lawmakers now want the SEC to align its side. They asked Paul Atkins for “swift assistance” to the Secretary of Labor.
They also asked for updates to SEC regulations and guidance where needed.
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401(k) market size and a 1 percent allocation scenario
The 401(k) market $9.3 trillion figure sets the scale. A 1% allocation $93 billion would be a large number for crypto ETFs. It shows how small weights can create significant flows.
For context, spot Bitcoin ETFs saw about $60.6 billion in net inflows since January 2024.
Therefore, a 1% allocation $93 billion would exceed that total. It illustrates the potential impact from the Trump crypto retirement plan.
The executive order does not set allocation targets. It leaves decisions to fiduciaries. It centers on access, disclosures, and compliance within existing frameworks.
Public funds and current crypto ETF positions in retirement plans
Some public funds already report crypto ETF exposure. The State of Michigan Retirement System added $10.7 million of the ARK 21Shares Bitcoin ETF in the second quarter.
It also held 460,000 shares of Grayscale Ethereum Trust valued near $15.6 million at that time.
However, other funds moved the other way. The State of Wisconsin Investment Board sold its iShares Bitcoin Trust stake in the first quarter. It had been among the first public pensions to disclose exposure.
These positions show varied adoption paths. They also show the role of listed crypto ETFs for institutional access. They remain inside regulated wrappers that fit plan reporting systems.
Names, numbers, and what the letter asks from the SEC
The signers were French Hill, Ann Wagner, Frank D. Lucas, Warren Davidson, Marlin Stutzman, Andrew R. Garbarino, Michael V. Lawler, Troy Downing, and Mike Haridopolos.
They addressed Paul Atkins at the SEC. They tied their request to the executive order and to 401(k) access.
They wrote that about 90 million Americans use 401(k) plans. They argued that access to alternative assets should depend on fiduciary review. They asked the SEC to coordinate with the Labor Department to carry out the plan.
The letter did not set deadlines or name specific crypto ETFs. It focused on process and implementation steps. It asked for rule alignment, clear guidance, and support for plan operations.
Source and context for the Trump crypto retirement plan story
Source: Cointelegraph. The report details the US lawmakers letter, the executive order, and the Labor Department reversal. It cites specific names, dates, and figures.
It also notes current crypto ETFs in public pension filings. It lists ARK 21Shares Bitcoin ETF, Grayscale Ethereum Trust, and iShares Bitcoin Trust by name.
It provides the 401(k) market $9.3 trillion size and the 1% allocation $93 billion scenario.
The story places the SEC and the Labor Department at the center of next steps. It links the Trump crypto retirement plan to rulemaking and plan level execution.
It highlights how alternative assets may enter 401(k) menus through existing fiduciary duties.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
Kriptoworld.com accepts no liability for any errors in the articles or for any financial loss resulting from incorrect information.
Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🔄 Last updated: August 4, 2025
