Federal regulators cleared a Department of Labor (DOL) rule on Mar. 24 that could bring cryptocurrency into the $10 trillion 401(k) market, completing a key step in the White House review process.
DOL Rule Passes OIRA Review
The White House's Office of Information and Regulatory Affairs (OIRA) finished its review of the DOL proposal on Mar. 24. The rule, formally titled "Fiduciary Duties in Selecting Designated Investment Alternatives," would amend fiduciary guidance for plans governed by the Employee Retirement Income Security Act (ERISA).
If finalized, the rule could allow plan sponsors to include Bitcoin (BTC) and other cryptocurrencies as designated investment options alongside private equity.
The DOL classified it as "economically significant" and flagged it as "consistent with change."
No legal deadline exists for finalizing the rule. The DOL is expected to publish it formally in the coming weeks, opening a standard 60-day public comment window before revisions and a final version are issued.
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Trump's 401(k) Executive Order
The proposal builds on an executive order signed by President Donald Trump directing the DOL, the Securities and Exchange Commission (SEC), and the Treasury to reduce barriers blocking alternative assets from defined-contribution retirement plans.
The DOL separately rescinded a 2022 guidance that had warned fiduciaries to exercise "extreme caution" before adding crypto to 401(k) menus — a directive issued under a Biden-era executive order requiring risk assessments of digital assets.
Lawmakers have also moved on their own.
Rep. Troy Downing introduced a bill to give Trump's directive the force of law. Indiana advanced House Bill 1042 in February, requiring state-administered retirement plans for teachers and public employees to offer at least one digital asset option through self-directed brokerage accounts.
Matt Hougan On Crypto 401(k) Timing
Bitwise Chief Investment Officer Matt Hougan said in January that 2026 could be the year investors gain access to Bitcoin and other digital assets inside 401(k) accounts.
He noted that providers have been slow to adapt but acknowledged the Trump administration had effectively removed the prior ban.
Hougan pointed to growing adoption of digital assets in individual retirement accounts as evidence the trend is already in motion. Nine House members wrote to SEC Chair Paul Atkins in September urging prompt action to implement the executive order in coordination with the DOL.