United States of America: President signed Executive Order 14330 on Democratising Access to Alternative Assets

On 7 August 2025, the President signed Executive Order No. 14330 on Democratising Access to Alternative Assets. Within 180 days, the Secretary of Labour must clarify the Department’s position on alternative assets and the fiduciary processes for offering asset allocation funds containing such investments under ERISA. The order notes that “alternative assets” include holdings in “actively managed investment vehicles that invest in digital assets.” The Order also instructs the Secretary to explore ways to facilitate participant access to alternative asset investments, including digital assets, through participant-directed defined-contribution.