One detail in this update deserves a closer look.
Smaller cryptocurrencies could become available in US 401(k) retirement plans under a proposed Labor Department rule, but experts say they may face more challenges than Bitcoin (BTC) and Ether (ETH). The proposal could open the door to more cryptocurrencies in retirement plans, however, it does not guarantee they will be offered. Bitcoin and Ether are the two largest cryptocurrencies by market capitalization, at approximately $1.5 trillion and $273 billion, respectively, according to CoinGecko data as of 20:01 UTC on Nov. Instead, those managing 401(k) plans would need to show that their investment choices are sensible. “If not, it is not going in.” ETFs could come before direct crypto holdings While the Labor Department’s proposal does not limit crypto investments to exchange-traded funds (ETFs) or managed funds, experts said those products will likely be offered before direct crypto holdings.
Smaller cryptocurrencies could become available in US 401(k) retirement plans under a proposed Labor Department rule, but experts say they may face more challenges than Bitcoin (BTC) and Ether (ETH). The proposal could open the door to more cryptocurrencies in retirement plans, however, it does not guarantee they will be offered. Bitcoin and Ether are the two largest cryptocurrencies by market capitalization, at approximately $1.5 trillion and $273 billion, respectively, according to CoinGecko data as of 20:01 UTC on Nov. Instead, those managing 401(k) plans would need to show that their investment choices are sensible. “If not, it is not going in.” ETFs could come before direct crypto holdings While the Labor Department’s proposal does not limit crypto investments to exchange-traded funds (ETFs) or managed funds, experts said those products will likely be offered before direct crypto holdings.