Rule to Allow Crypto in 401(k)s Arrives at White House for Final Review

A final DOL rule that would ease alternative assets such as private equity, real estate and cryptocurrency into 401(k) retirement plans arrived at the White House on Thursday for review, Bloomberg Law reported , a procedural step that usually precedes public release.

The Office of Information and Regulatory Affairs logged the package on Nov. 5 under the title “Fiduciary Duties In Selecting Designated Investment Alternatives,” RIN 1210-AC38. The filing lists the DOL’s Employee Benefits Security Administration as the authoring office, marks the stage as a final rule, flags it as economically significant and notes that there is no legal deadline for completion.

The DOL unveiled the proposal on March 30. In that draft, plan fiduciaries who follow a documented process when adding private assets to a 401(k) menu would get a legal safe harbor under the Employee Retirement Income Security Act of 1974.

The six factors named in the proposal are performance, fees, liquidity, valuation, performance benchmarks and complexity. Satisfying them does not force plans to offer crypto. It lowers the litigation risk for employers that decide they want to.

JUST IN: 🇺🇸 The White House is now reviewing a new rule which will allow Americans to invest in crypto through their 401(k) retirement plans 👀 pic.twitter.com/uXGGIXEzdC

President Donald Trump’s Aug. 7, 2025, executive order, “Democratizing Access to Alternative Assets for 401(k) Investors,” directed the Labor secretary to reexamine ERISA guidance and, where appropriate, propose rules with “appropriately calibrated safe harbors.” The order defined alternative assets to include private-market equity and debt, real estate, holdings in actively managed vehicles that invest in digital assets, commodities, infrastructure and lifetime-income strategies.

The March proposal implements that order. A DOL fact sheet said prudence under ERISA is process-based and that fiduciaries retain discretion to select any designated investment alternative if they follow the outlined review. Deputy Labor Secretary Keith Sonderling cast the approach as neutral: “The department’s days of picking winners and losers are over.”