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Coinbase is launching a new product to Australian self-managed pension funds, its Asia-Pacific Managing Director, John O’Loghlen, told Bloomberg. This follows up the huge rise of crypto interests in the pensions sector, with investments rising from A$197 million as of December 2019 to nearly A$1 billion ($664 million) today, says the Australian Taxation Office. The firm is to offer a dedicated platform for self-managed superannuation funds, which usually lean towards long-term investments. “Self-managed super funds might just make a single allocation, set it and forget it,” O’Loghlen said. The service is designed to ease a smooth and lasting relationship with crypto investments.
This comes at a very strategic time for crypto growth. This sector growth is being partially fueled by recent ETF approvals in the United States and the expectations of a similar position in Australia. It shows a broader tendency, a tendency to integrate cryptocurrency into traditional portfolios, promising to be more widespread through more accessible, self-managed routes.
