The White House will allow 401 (k) investors to invest in cryptocurrencies, and Blackstone CEO expects large private equity firms to dominate the market

According to Bloomberg, the White House is preparing an executive order to provide legal protection for 401 (k) retirement plan managers, allowing them to include private market funds, cryptocurrencies, and other alternative assets in their investment options. Jon Gray, President of Blackstone Inc., stated that once the United States paves the way for the expansion of 401 (k) plans beyond stocks and bonds, top institutions in the alternative asset industry are most likely to benefit from it. This move will bring significant changes to the US retirement savings market, providing more diversified investment channels for ordinary investors, and may also create new business growth points for large private equity management companies.