The executive order signed by Trump the day before yesterday broadens the investment scope of the U.S. 401(k) retirement accounts, 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 or gold markets, and the pace of entry may start off quite slow. This is because investment administrators have a "duty of prudence" in reviewing the assets, and if they incur losses for the 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. Additionally, the 401(k) plan consists of both employer contributions and employee contributions. The latter has always been able to freely purchase cryptocurrencies and gold ETFs, so this portion of funds has already entered the market. However, over 90% of contributions come from the former, and the strategies available here are generally quite limited. Administrators need to actively add options, as they bear the responsibility for users' retirement, and they will certainly be very cautious with assets that have high volatility.