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One of Australia’s largest pension funds, Hostplus, with assets nearing $105 billion, is considering offering its members access to cryptocurrency investments, according to Bloomberg.
The fund is exploring the inclusion of crypto assets in its Choiceplus service, which allows individuals to manage a portion of their retirement savings independently. Currently, such accounts represent about 1% of the total asset volume.
Hostplus does not intend to limit itself to Bitcoin. Participants may also be offered other cryptocurrencies, as well as tokenized assets, including rights to musical works, stated the fund’s Chief Investment Officer, Sam Sicilia.
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He indicated that this initiative is driven by the increasing interest from clients in digital assets. Access to cryptocurrencies could be available as early as the next financial year, although the launch is contingent upon regulatory approval and the completion of product development. Sicilia noted that issues related to investor protection and product structure are still being worked on.
Hostplus serves approximately 2 million individuals, with the average age of participants ranging from 35 to 39 years.
In 2024, AMP gained indirect access to cryptocurrencies through Bitcoin futures. Currently, Australian pension funds do not have direct investments in digital assets.
Australia still lacks comprehensive regulation of the cryptocurrency market: the relevant bill has only been recommended for adoption by the Senate’s economics committee.
