Quick answer. In a workplace 401(k), the plan determines which investments you can access. In an IRA you opened yourself, the brokerage or custodian determines what it supports. If you can buy Bitcoin in a personal account with the same company, check your retirement account’s investment list separately. IRS guidance on participant-directed accounts · Example of a separate retail crypto account
Find out who controls the investment list
| Account | Where to look | What to ask |
|---|---|---|
| Current employer’s 401(k) | Plan investment menu and any brokerage window | Does the plan offer direct crypto or a Bitcoin fund? Which investments are permitted through the window? |
| Former employer’s 401(k) | Former employer’s plan administrator | What can I hold here today? If I want to move eligible funds, what choices do I have? |
| Traditional or Roth IRA | Brokerage or custodian’s list of permitted investments | Can this IRA hold cryptocurrency, shares of a Bitcoin fund, or neither? |
What changed in 2025?
The U.S. Department of Labor withdrew its 2022 guidance on cryptocurrency in 401(k) plans. Your plan’s investment menu still controls what you can buy through the plan. Ask the administrator what is available today. Department of Labor release
Ask what you would actually own
If your account offers a spot Bitcoin fund, you buy shares in the fund. If an IRA provider supports direct Bitcoin purchases, ask who holds the Bitcoin and what the account allows you to do with it. The distinction matters when you compare fees, custody and how you would sell or move out. Example Bitcoin fund fact sheet · Bitcoin wallets and IRA custody
Before you consider a rollover
- Ask the plan administrator whether you can take an eligible distribution and request the options in writing.
- Ask the receiving institution which account types and funds it accepts and what fees apply.
- Compare the cost and features of your current account with the proposed account. Check the tax treatment before authorizing the move, especially if you are considering a Roth conversion.
IRS rollover rules · IRS options when leaving a job
Next step. If the plan says your funds may be eligible to move, use the 401(k)-to-IRA rollover checklist to prepare for both calls. If you already have an IRA, start with IRA transfers versus rollovers.