Trump Don Approve 401(k) Crypto; BTC Near $117K, ETH Don Pass $3.9K
For August 8, US President Donald Trump sign one executive order wey allow 401(k) crypto investments, fit open as much as $12.5 trillion for retirement funds for digital assets. This move make market rally: Ethereum climb 5.7% pass $3,900, Bitcoin gain 2% near $117,000, and XRP jump 12.8% after dem settle SEC wahala. Better-than-expected jobless report boost hope for rate cut, make market dey optimistic. Institutional support dey grow. BlackRock dey plan to launch crypto-friendly target date retirement fund by first half 2026. Calm down for Russia–Ukraine tension raise PayFi, DeFi, meme, and RWA tokens, show say market dey bullish. But analysts dey warn say serious volatility fit happen, fraud fit dey, rules no clear, plus high fees. Advisors talk say make person keep 401(k) crypto investment small part of diversified portfolio. Traders suppose balance long-term growth potential and short-term risk before dem move retirement money.
Bullish
By greenlighting 401(k) crypto, di order dey unlock institutional and retail retirement capital, e directly dey support demand for BTC and ETH. Di immediate price reaction— BTC near $117K, ETH above $3.9K, and XRP’s 12.8% surge—show say strong buying pressure dey. Improved rate-cut odds and di tension wey reduce for geopolitical level add macro tailwinds for risk assets.
For di short term, traders fit ride di momentum as fund flows dey target digital assets inside retirement vehicles. For di long term, ongoing policy clarity and di entry of big asset managers like BlackRock dey suggest structural support wey fit stabilize and elevate market valuations. Even though volatility and regulatory risks still dey, overall di news dey favor a bullish trajectory for dis cryptocurrencies dem.