The cryptocurrency market rallied Thursday following reports that United States President Donald Trump will soon sign an executive order allowing 401(k) retirement plans to invest in alternative assets, including digital currencies, real estate, and private equity.

Bitcoin climbed about 1per cent, crossing the $116,000 mark for the first time since July 31, while Ether jumped over 4 per cent to a one-week high.

Crypto-related stocks also gained in premarket trading: Coinbase rose 2 per cent, Circle added more than 3 per cent, Bitmine Immersion climbed 4 per cent, and Sharplink Gaming surged 7 per cent.

The executive order, first reported by Bloomberg, marks another step in the Trump administration’s push to establish the U.S. as the “crypto capital of the world.”

It comes on the heels of the GENIUS Act, a stablecoin-focused bill signed into law in July as the nation’s first official crypto legislation.

Allowing bitcoin in Americans’ retirement accounts has long been considered a key milestone—and potential breakthrough—for widespread crypto adoption.