Millions of Americans saving for retirement through 401(k) accounts could have the option of putting their money in higher-risk private equity and cryptocurrency investments, according to an executive order signed Thursday by President Donald Trump that could give those financial players long-sought access to a pool of funds worth

President Donald Trump signed an executive order allowing private equity, venture capital and hedge funds in retirement accounts, reversing a Biden administration policy.

The order is expected to direct the Labor Department to work with the Treasury and the Securities and Exchange Commission to see which regulations need to be changed.