Groom principal Kevin Walsh was featured in the Investopedia article, “Navigating Cryptocurrency in Your 401(k): Opportunities and Risks,” where he discussed how federal guidance could influence plan sponsors’ decisions regarding cryptocurrency as an investment option within 401(k) plans.
According to Investopedia, Walsh said that “the Biden administration’s past advice discouraged 401(k) plan sponsors from offering crypto investment options.”
“I think it [the new guidance] increases the likelihood that the plan sponsors allow participants to access crypto or digital assets,” he said. “The Trump administration has announced a policy of asset class neutrality.”
“I would expect that it would be a gradual path to adoption. The 401(k) industry tends to be fairly conservative because there’s a pretty constant threat of litigation,” added Walsh.
The platform reported that, according to Walsh, “Although…it could be a while before retirement investors notice changes in their 401(k)s…some investors could be allowed to invest in crypto through the main 401(k) investment lineup or via a brokerage window in the future.”
To read the article, click here.
