The executive order signed by Trump the day before yesterday broadens the investment scope of 401(k) retirement accounts in the U.S., allowing the inclusion of alternative assets such as cryptocurrencies and private equity funds. Although the headlines are largely positive for cryptocurrencies, these alternative assets also include precious metals like gold and silver, which were previously classified as "collectibles." So, this is actually a big deal for the gold industry as well. However, these high-risk assets will not automatically be included in employer plans. Employers and plan administrators need to conduct a selection process. Therefore, it may take at least a few months before we actually see pension funds entering the crypto space or gold market, and the pace of entry may start off quite slow. This is because investment administrators have a "duty of prudence" in their asset reviews, and if they incur losses for pension funds, they may face litigation risks. Thus, it is expected that, apart from companies targeting young IT professionals, most companies will take a considerable amount of time to open up to alternative assets.