President Donald Trump signed Thursday an executive order that lays the groundwork to add alternative assets such as private equity, cryptocurrencies and real estate into 401(k)s.

The executive order directs the U.S. Secretary of Labor to review fiduciary guidance on private market investments in 401(k) and other defined contribution plans that are governed by the Employee Retirement Income Security Act of 1974, or ERISA. The federal law sets minimum standards for most retirement plans.

The executive order marks a major victory for the alternative asset industry, which has pushed for greater adoption of private assets in defined contribution plans under Trump's second term in office. Though it also brings with it new risks for investors.

Bitcoin jumped Thursday in respons

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