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Crypto is ‘risky’ but only makes up less than 1% of 401(k) market: Government watchdog

Since some 401(k) plans now offer the option to invest in crypto assets like bitcoin and the DOL has not required fiduciaries to monitor all crypto options, the Government Accountability investigated in response to a request from the House Committee on Ways and Means. 

By Lynn Cavanaugh | December 09, 2024 at 12:07 AM
Logos of the main cryptocurrencies Bitcoin, Ethereum, Binance, Cardano, Ripple, Dogecoin, Tether, Solana, Polkadot.

While President-elect Donald Trump has vowed to make the U.S. the “crypto capital of the planet,” right now cryptocurrency assets make up only small part of 401(k)s, according to the government watchdog, Government Accountability Office (GAO).

While some 401(k) plans now offer the option to invest in crypto assets like bitcoin – and amid growing concerns from the Employee Benefits Security Administration about the risks associated with investing in cryptocurrency assets, the GAO recently investigated the prevalence of crypto assets in the 401(k) market.

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