Major cryptocurrencies and crypto-related stocks surged as President Trump prepared to sign an executive order allowing alternative assets like cryptocurrencies in retirement accounts. Bitcoin, ether, XRP, Coinbase, Robinhood, and Strategy shares all saw gains. The order would revolutionize retirement investments, introducing riskier options. BlackRock and KKR back the move.

President Trump’s expected executive order will prompt the SEC to facilitate alternative asset use in 401(k) plans. This shift would allow investments beyond traditional stocks and bonds, potentially boosting returns. BlackRock chairman Larry Fink supports the move, emphasizing the benefits of private assets in retirement accounts for diversification and stability.

President Trump recently signed the GENIUS Act, regulating stablecoins like Tether. The Act reinforces the regulatory framework for cryptocurrencies, following the Clarity and Anti-CBDC Acts. These bills aim to define oversight of digital assets and prevent the Federal Reserve from creating central bank digital currencies. The bills are awaiting Senate votes.

The recent momentum in Washington around cryptocurrencies culminated in the signing of the GENIUS Act. The Act establishes a regulatory structure for stablecoins, while the Clarity and Anti-CBDC Acts address oversight and surveillance concerns. The bills passed in the House and await Senate approval, shaping the future of digital asset regulation.

Read more at Yahoo Finance: Bitcoin, crypto stocks rally ahead of Trump order opening 401(k) plans to alternative assets