According to Eric Balchunas, Empower will begin offering private assets in its retirement portfolios by partnering with Apollo and Franklin, marking a significant shift toward increased retail access to alternative investments (source: Eric Balchunas on Twitter, May 14, 2025). For traders, this development signals a growing trend of democratizing private market assets, which may drive new liquidity flows into both traditional and crypto markets as retail investors seek diversified returns. The collaboration with major asset managers also highlights a broader acceptance of alternative assets, potentially influencing the allocation strategies of both institutional and retail portfolios, with possible spillover effects into digital assets as investors look for higher yield opportunities.