Lawmakers Push for Crypto in 401(k) Plans Affecting 90 Million

Key Developments in Crypto and Retirement Plans:

First Ledger, a decentralized exchange on XRPL, equates 401(k) plans with XRP, highlighting their shared goal of long-term value growth.
Nine U.S. lawmakers, including House committee chairs French Hill and Ann Wagner, have urged SEC Chair Paul Atkins to implement an executive order from President Trump. This order would ease rules for retirement plans to include cryptocurrencies, affecting around 90 million Americans with 401(k) accounts.
The proposal suggests that even small allocations (1%-2%) of the $12 trillion 401(k) market could lead to significant investments in crypto assets, potentially bringing $120 billion to $240 billion into the market.
The global crypto market has seen substantial growth, with Bitcoin ETFs attracting $57 billion since January 2024, contributing to Bitcoin's price increase from $45,000 to $124,457.
Public retirement systems, like Michigan's, are starting to add crypto exposure, making the debate around 401(k) options more than theoretical.
Analysts predict that if global retirement funds allocated 1% to XRP, its price could rise to $12, with broader estimates ranging from $17 to $34. A similar 2% allocation to Bitcoin could see its price reach $175,000.
Retirement investments might flow into crypto ETFs instead of direct purchases, as they are familiar and regulated products used by many plans. Access to ETFs for XRP could significantly impact its adoption and utility.

Image Source: NWM, Chart by TradingView