Australia’s Rest Super retirement fund to invest in crypto for its 1.8M members
Managed Super funds are seriously considering crypto exposure.
Australian superannuation fund Rest Super is set to become the first retirement fund in the country to invest in cryptocurrencies. The fund has more than $46.8 billion worth of assets under management and around 1.8 million members.
Rest Super’sSuper’s chief investment officer, Andrew Lill, told members that the company sees digital assets as an “”important part”” of its portfolio moving forward but will proceed “”carefully and cautiously,””
This follows previous news that the Commonwealth Bank (CBA) will be introducing Cryptocurrency services. The CBA CEO Matt Comyn stated the bank was more motivated by FOMO instead of being worried about risks associated with digital assets. “”We see risks in participating, but we see bigger risks in not participating,”” he said.
As institutions decide to enter the cryptocurrency market, we can assume that it will encourage others to follow suit. Like dominoes, all players will be operating in the cryptocurrency market.
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