The White House will allow 401(k) to invest in Crypto Assets, and the president of Blackstone expects large private sales to dominate the market.

[The White House will allow 401(k) to invest in Crypto Assets, Blackstone president expects large private sales to dominate the market] According to Bloomberg, the White House is preparing an executive order that will provide legal protections for 401(k) retirement plan managers, allowing them to include private market funds, Crypto Assets, and other alternative assets in their investment options. Blackstone Inc. president Jon Gray indicated that once the U.S. paves the way for 401(k) plans to expand into investment areas beyond stocks and bonds, leading institutions in the alternative asset industry will likely benefit the most. This move will bring significant changes to the U.S. retirement savings market, providing ordinary investors with more diversified investment channels while potentially creating new business growth opportunities for large private equity management firms.