U.S. President Donald Trump is preparing to sign an executive order to allow retirement accounts for alternative investments including cryptocurrencies, the Financial Times reported on Thursday.

The order, which could be signed as soon as this week, would to allow 401(k) accounts to invest in a broader set of assets beyond traditional stocks and bonds such as digital assets, gold and private equity, and would direct regulators to clear any hurdles.

Bitcoin jumped above $120,000 on the report, up 1.7% through the past 24 hours. Meanwhile, XRP surged to a fresh all-time high, breaking its 2018 record.

Read more: GENIUS Act for Stablecoins Passes House on Way to Being First Major U.S. Crypto Law

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