Cryptocurrency is flowing into Australia's A$4.3 trillion savings pool through self-managed superannuation funds

ChainCatcher news, according to Zhitong Finance, Australia's retirement fund system, which amounts to AUD 4.3 trillion (approximately USD 2.8 trillion) ------ long regarded as one of the most well-regulated savings pools globally ------ is becoming a new frontier for cryptocurrency.

Coinbase and OKX have successively launched products aimed at investing pension funds in cryptocurrencies, marking a further infiltration of digital assets into the mainstream financial system. Their initial focus is on self-managed superannuation funds (SMSFs) ------ these funds, managed independently by investors, account for a quarter of the Australian pension market. Unlike mainstream pension funds that generally avoid cryptocurrency assets, SMSFs provide individuals with full investment autonomy.

A spokesperson for the Australian Securities and Investments Commission (ASIC) stated, "Such products are extremely volatile, and excessive exposure may lead to significant losses." The agency also recommends that consumers seek professional advice from accountants or financial advisors before establishing an SMSF. It emphasized, "We remind those considering setting up an SMSF that the core objective of the pension system is to preserve and grow value, ultimately providing individuals with the income needed for a decent retirement."