Crypto is the ‘largest growing’ asset class in Aussie DIY pensions

Australians are increasingly looking to cryptocurrency to secure a peachy retirement, with allocation to the asset class from self-managed retirement funds increasing 400% in just four years — with the growth rate surpassing stocks and bonds.

As of the quarter ending in September, the nearly 612,000 self-managed super funds (SMSFs) are holding a total of $658.6 million (992 million Australian dollars) worth of cryptocurrencies, statistics released on Nov. 26 from the Australian Tax Office (ATO) show.

The latest figure is a 400% increase from the same quarter in 2019 — which closed out at just under $131.5 million (198 million Australian dollars).

In Australia, self-managed super funds…

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