77% of Americans Call Crypto in 401(k) Plans Risky: NIRS Survey

A new survey from the National Institute on Retirement Security (NIRS) reveals deep American skepticism toward cryptocurrency in workplace retirement plans, with 77% of respondents describing crypto as risky and 46% labeling it very risky. Conducted by Greenwald Research between Oct. 24 and Nov. 14, 2025, the poll surveyed 1,203 Americans aged 25 and older, with results weighted by age, gender, and income. More than half (53%) said they oppose employers offering crypto as an investment option in retirement accounts. The findings coincide with growing concern over retirement security broadly: 80% of respondents said the US faces a retirement crisis, up from 67% in 2020, while 61% expressed concern about achieving financial security in retirement.

Financial pressures appear to be amplifying these anxieties. According to the survey, 68% of Americans said it is becoming harder to prepare for retirement, and 77% reported that debt prevents them from saving adequately. The skepticism toward crypto in retirement plans stands in contrast to a series of federal policy moves aimed at broadening access to alternative assets, including digital assets, in defined-contribution plans. In May 2025, the US Department of Labor rescinded prior guidance that had urged 401(k) fiduciaries to exercise "extreme care" when considering cryptocurrency, adopting instead a neutral stance that neither endorses nor discourages crypto on investment menus.

The policy shift accelerated on Aug. 7, 2025, when President Donald Trump signed an executive order directing the Labor Department and the Securities and Exchange Commission to consider regulatory changes that would expand access to alternative assets in 401(k) plans, including vehicles holding digital assets. Days later, the Labor Department withdrew 2021 guidance that had discouraged fiduciaries from considering alternative assets, replacing it with a neutral, principles-based framework. Meanwhile, analysts at Bernstein have projected Bitcoin to reclaim $125,000 by late 2026 ahead of an anticipated cycle peak. The growing tension between public caution and federal efforts to integrate crypto into retirement savings is likely to shape the regulatory and investment landscape heading into 2026.