Australian Self-Managed Retirement Funds Increase Crypto Allocation by 400% in Four Years
Self-managed retirement funds in Australia have seen a 400% increase in allocation to cryptocurrency over the past four years, making it the largest growing asset class in these funds. As of September, these funds held a total of $658.6 million worth of cryptocurrencies, up from just under $131.5 million in the same quarter of 2019. However, the amount of crypto held in these funds has dropped 38% compared to the all-time high in the quarter ending June 2021. Despite this, local crypto exchanges offering crypto superannuation products are on the rise.
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