According to @KobeissiLetter citing Gallup, only 14% of Americans currently own any cryptocurrency, while 21% are either intrigued or likely to buy in the future, underscoring low penetration but a sizable demand funnel (Source: Gallup via The Kobeissi Letter). This suggests traders should focus on distribution rails like retirement plans, as @KobeissiLetter highlights 401(k)s as the next piece of the adoption puzzle (Source: The Kobeissi Letter). Policy and product developments remain pivotal, with the U.S. Department of Labor cautioning fiduciaries about crypto in 401(k) plans in a 2022 compliance release and Fidelity announcing a Digital Assets Account to enable crypto exposure in 401(k)s in 2022, illustrating both regulatory headwinds and potential distribution pathways (Sources: U.S. Department of Labor, 2022; Fidelity Investments, 2022).

According to Miles Deutscher, Ethereum ETH at 4,000 dollars today is fundamentally stronger than at its 4,800 dollar peak in 2021. According to Miles Deutscher, the improvement is driven by spot ETFs, 401(k) access, and greater regulatory clarity for stablecoins and DeFi that he says have transformed the current market, framing a more favorable trading setup for ETH versus 2021.

According to @KobeissiLetter, President Trump allowed 401(k)s to buy crypto, citing $9 trillion in 401(k) assets versus a roughly $4 trillion total crypto market cap, implying access to capital about 2.25x the market’s size; Source: The Kobeissi Letter post on X dated Aug 9, 2025. For implementation, any broad 401(k) access to crypto would need to align with or be reflected in updated guidance from the U.S. Department of Labor, which in March 2022 cautioned plan fiduciaries about offering crypto in plan lineups under ERISA (Compliance Assistance Release 2022-01); Source: U.S. Department of Labor, EBSA, CAR 2022-01, March 2022. Plan-level offerings have historically depended on provider policies, as seen when Fidelity announced an optional Bitcoin exposure for workplace retirement plans in April 2022, subject to employer approval; Source: Fidelity Investments press release, April 26, 2022. Trading focus: monitor official statements from the Department of Labor and major plan providers for confirmation, and track spot Bitcoin ETF volumes and flows as potential allocation rails if plans adopt crypto, following the SEC’s January 2024 approval of U.S.-listed spot Bitcoin ETFs; Source: U.S. Securities and Exchange Commission approval order and statements, Jan 10, 2024.