President Donald Trump is scheduled to sign an executive order Thursday to allow cryptocurrencies, private equity and real estate into employee 401(k)s.

Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments

The order asks the Secretary of Labor to reexamine department guidance regarding the Employee Retirement Income Security Act of 1974.

"The order directs the Securities and Exchange Commission to facilitate access to alternative assets for participant-directed defined-contribution retirement savings plans by revising applicable regulations and guidance,

President Donald Trump signed an executive order easing access to private equity, real estate, cryptocurrency and other alternative assets in 401(k)s, a major victory for industries looking to tap some of the roughly $12.

Trump is opening up 401(k) retirement plans to alternative assets, such as private equity and crypto, the White House has said.

This is yet another channel of sustained, long-term demand for Bitcoin that will bid the price higher,” Ryan Rasmussen, head of research at the crypto asset management firm Bitwise, told Fortune. The rise in the crypto and equities markets follows multiple reports that Trump will sign an executive order Thursday midday that will task the Labor Department to reevaluate guidance for fund managers about whether alternative assets can be included in 401 (k)s.

President Donald Trump on Thursday is expected to sign an executive order that could make it easier for 401(k)s and other workplace retirement plans to offer employees the option of investing some of their savings in alternative investments including private equity,

President Trump on Thursday is expected to sign an executive order to allow private equity and other alternative assets into 401(k) retirement accounts. Why it matters: This is a major realignment of the capital markets,