Australia’s Biggest Pension Fund Makes Historic $17M Bitcoin Investment, A National First
2024年12月13日 - 7:30PM
NEWSBTC
In a groundbreaking move for the Australian pension industry, AMP
Ltd., a prominent pension and wealth management firm, has allocated
approximately A$27 million (around $17.2 million) to Bitcoin (BTC)
futures. This investment marks AMP as one of the first major
retirement managers in Australia to embrace cryptocurrency
products, reflecting a shift in attitudes toward digital assets
within a traditionally conservative sector. AMP’s Bitcoin Futures
Investment AMP’s Senior Portfolio Manager, Steve Flegg, announced
the decision on LinkedIn, noting that the firm “took the plunge and
made a modest allocation to Bitcoin” earlier this year. A
corporate representative told Bloomberg that the investment was
primarily in Bitcoin futures and that there are currently no
intentions to raise this commitment. Related Reading: Shiba Inu
Surges 14% In A Day: Is An additional 180% Rally Within Reach? The
move comes after BTC recently reached the $100,000 barrier for the
first time, rising by more than 40% since Donald Trump’s victory in
the US presidential election in November. Trump, known for
his pro-crypto position, has vowed to create a more favorable
regulatory environment for digital-asset enterprises, hence
increasing interest in cryptocurrencies, and has proposed the
establishment of a national Bitcoin stockpile. Despite AMP’s
pioneering steps, the broader Australian pension sector, valued at
A$4.1 trillion, has shown limited enthusiasm for cryptocurrency
investments. Reserve Bank of Australia Governor Michele
Bullock has stated that Bitcoin does not play a significant role in
the Australian economy. Furthermore, regulators have cautioned that
robust risk management practices must be employed when engaging
with digital assets. The Australian pension industry has faced
scrutiny over various issues, including valuation concerns in
unlisted markets, customer service, and investment fees.
Recently, many pension products offered by AMP failed an annual
performance test designed to identify underperforming retirement
products, with several failing for a second consecutive year.
Crypto ETFs Fuel AMP’s Investment Strategy The decision to invest
in Bitcoin futures is indicative of the “structural changes”
occurring within the digital-assets landscape, according to AMP’s
Chief Investment Officer, Anna Shelley. She pointed to the
recent launch of exchange-traded funds (ETFs) in the US that invest
directly in Bitcoin and Ethereum (ETH) by leading investment
managers as a significant development. “Following testing and
careful consideration by our investment team and committee, we
included a small and risk-controlled position in digital assets
through our Dynamic Asset Allocation program in May,” Shelley
explained. Related Reading: Solana To New ATH Before
Christmas – Analyst Expects $300 Soon The exposure to BTC futures
constitutes about 0.05% of AMP’s total pension assets, illustrating
a cautious yet progressive approach to digital asset investment by
the Australian asset manager. While AMP acknowledges the potential
benefits of exposure to cryptocurrencies, the firm remains acutely
aware of the associated risks and volatility. Shelley noted that
although their superannuation members have gained from this
exposure, the investment is part of a highly diversified asset mix
and will be managed with careful oversight. At the time of writing,
the market’s leading crypto is trading at $99,800, recording a
slight 1.1% decrease in the 24-hour time frame. Featured image from
DALL-E, chart from TradingView.com
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