Democratizing Access to Alternative Assets for 401(k) Investors

Executive orderRegulation easedSigned 25/08/07Federal Register 25/08/12Executive Order 14330Open the original

Summary

President Trump orders that 401(k) and other defined-contribution plan participants have access to funds with alternative assets, including private markets, real estate, vehicles investing in digital assets, commodities and infrastructure; the Secretary of Labor reexamines guidance within 180 days.

By industry

Crypto & Digital Assets1 trading day+0.5%p15 stocks5 trading days−1.7%p15 stocks20 trading days−1.2%p15 stocks
“holdings in actively managed investment vehicles that are investing in digital assets”

Day by day after the announcement

Crypto & Digital Assets stocks and the S&P 500 after the announcement, cumulative %
Day	Crypto & Digital Assets stocks	S&P 500
25/08/06	0.0%	0.0%
25/08/07	+0.5%	+0.0%
25/08/08	−0.7%	+0.9%
25/08/11	−0.5%	+0.5%
25/08/12	−0.4%	+1.6%
25/08/13	+0.2%	+1.9%
25/08/14	+0.7%	+2.0%
25/08/15	+0.4%	+1.6%
25/08/18	+2.5%	+1.7%
25/08/19	−3.4%	+1.2%
25/08/20	−2.3%	+0.8%
25/08/21	−3.9%	+0.5%
25/08/22	+1.8%	+2.0%
25/08/25	+0.8%	+1.6%
25/08/26	+3.7%	+2.1%
25/08/27	+2.4%	+2.1%
25/08/28	+4.5%	+2.6%
25/08/29	+5.0%	+1.9%
25/09/02	+6.8%	+1.5%
25/09/03	+4.9%	+1.7%
25/09/04	+1.5%	+2.6%

Korean stocks in these industries

NAVER 035420
Hanwha Investment & Securities 003530
Woori Technology Investment 041190
Wemade 112040

Trades in these industries around the announcement

Members' and insiders' trades in the industries' stocks, 30 days before to 30 days after.

Peter L. Briger Jr.Director
BuyStrategy
Buy
Strategy
MSTR
$19.8M
220,000 sh
$19.8M
Filed 25/07/29
Traded 25/07/29
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$495K
5,500 sh
$495K
Filed 25/07/29
Traded 25/07/29
Andrew KangEVP & CFO
BuyStrategy
Buy
Strategy
MSTR
$252K
2,800 sh
$252K
Filed 25/07/29
Traded 25/07/29
Jarrod M. PattenDirector
BuyStrategy
Buy
Strategy
MSTR
$500K
5,555 sh
$500K
Filed 25/07/29
Traded 25/07/29
Jeanine MontgomeryVp & Cao
BuyStrategy
Buy
Strategy
MSTR
$450K
5,000 sh
$450K
Filed 25/07/29
Traded 25/07/29
Wei-Ming ShaoEVP & General Counsel
BuyStrategy
Buy
Strategy
MSTR
$225K
2,500 sh
$225K
Filed 25/07/29
Traded 25/07/29
Jane A. DietzeDirector
BuyStrategy
Buy
Strategy
MSTR
$135K
1,500 sh
$135K
Filed 25/07/29
Traded 25/07/29
Gregg WiniarskiDirector
BuyStrategy
Buy
Strategy
MSTR
$976.5K
10,000 sh
$976.5K
Filed 25/08/12
Traded 25/08/08
Jeremy AllaireChairman and CEO
SellCircle Internet Group
Sell
Circle Internet Group
CRCL
$45.5M
357,812 sh
$45.5M
Filed 25/08/20
Traded 25/08/18
Daniel John RobertsCo-CEO
SellIren
Sell
Iren
IREN
$33.1M
1,000,000 sh
$33.1M
Filed 25/09/11
Traded 25/09/11
William Gregory RobertsCo-CEO
SellIren
Sell
Iren
IREN
$33.1M
1,000,000 sh
$33.1M
Filed 25/09/11
Traded 25/09/11
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$1,521
16 sh
$1,521
Filed 25/08/28
Traded 25/08/26
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$6,746
71 sh
$6,746
Filed 25/08/28
Traded 25/08/26
Le PhongPresident & CEO
BuyStrategy
Buy
Strategy
MSTR
$3,042
32 sh
$3,042
Filed 25/08/28
Traded 25/08/26
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$818K
100,000 sh
$818K
Filed 25/08/25
Traded 25/08/21
Jeremy Fox-GeenCFO
SellCircle Internet Group
Sell
Circle Internet Group
CRCL
$4.1M
33,608 sh
$4.1M
Filed 25/09/04
Traded 25/09/03
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$400K
50,000 sh
$400K
Filed 25/08/25
Traded 25/08/21
Patrick Sean NevilleDirector
SellCircle Internet Group
Sell
Circle Internet Group
CRCL
$33.1M
260,374 sh
$33.1M
Filed 25/08/20
Traded 25/08/18
Akshay Sudhir NahetaCEO and President
BuyBakkt
Buy
Bakkt
BKKT
$256.5K
30,000 sh
$256.5K
Filed 25/08/25
Traded 25/08/22
Andrew KangEVP & CFO
SellStrategy
Sell
Strategy
MSTR
$2.5M
6,250 sh
$2.5M
Filed 25/08/11
Traded 25/08/07