Analysis: New US 401(k) retirement plan rules open doors for altcoins, but short-term access barriers remain

November 7 — The U.S. Department of Labor's proposed rule allowing alternative assets such as cryptocurrencies into 401(k) retirement plans was submitted to the White House on November 5 for final review. The proposal does not limit the types of cryptocurrencies that can be included, nor does it set a minimum market capitalization threshold, meaning altcoins and small- and mid-cap tokens may also have the opportunity to enter U.S. retirement investment plans in the future.

However, industry insiders point out that asset management institutions, when selecting investment targets, still need to comprehensively evaluate performance, fees, liquidity, valuation, benchmark indicators, and investment complexity. Bitcoin and Ethereum, with their mature markets and investment products, are expected to be the first to gain admission, while small- and mid-cap tokens may face higher barriers due to insufficient historical data, limited liquidity, and the lack of reliable valuation benchmarks.

In addition, experts expect that cryptocurrency ETFs and managed funds will enter 401(k) plans before directly held crypto products, because the former are easier to adapt to existing custody and account management systems. The industry expects that some crypto investment options may begin to be implemented in 2027 and further expand coverage around 2028.

The proposal still needs to complete White House review and subsequent legislative procedures, and it will not completely exempt retirement plan managers from fiduciary responsibilities and litigation risks.