According to @KobeissiLetter, Fidelity reported that 401(k) accounts with balances of $1 million or more rose 10% quarter over quarter to a record 654,000 in Q3 2025, while IRA accounts with at least $1 million increased 12% to a record 559,000, both setting new highs (source: Fidelity via @KobeissiLetter). For trading desks, these Fidelity-record retirement balance figures are used as a macro wealth signal when assessing risk appetite alongside equities and potential beta spillover into crypto such as BTC and ETH (source: Fidelity data as relayed by @KobeissiLetter).