Summary
- Australia’s pension fund Hostplus reportedly is considering a plan to offer members investment opportunities in virtual assets such as bitcoin.
- Hostplus, which manages about A$150 billion, said it is weighing direct investment options through its self-directed product ChoicePlus.
- The plan would require regulatory approval, consumer protection reviews and an assessment of product structure, and the actual launch could come after the next fiscal year.
Forecast Trend Report by Period
A major Australian pension fund is reportedly considering introducing an investment option in bitcoin (BTC).
According to The Coin Republic, a media outlet specializing in virtual assets (cryptocurrencies), Australia’s pension fund Hostplus is reviewing a plan to offer members investment opportunities in virtual assets such as bitcoin.
Reports say Hostplus is a large pension fund managing about A$150 billion (about $105 billion) and is considering offering direct investment options for certain assets through its self-directed product, “ChoicePlus.” The product is said to be run at roughly 1% of total assets.
Sam Sicilia, Hostplus’ chief investment officer (CIO), said, “Some of our members have consistently asked whether they can access virtual assets.” He added that “the virtual asset market has matured significantly compared with when we reviewed it about 10 years ago.”
However, the plan must go through regulatory approval procedures, and reviews are reportedly under way regarding consumer protection and product structure. The actual rollout is being discussed as potentially coming after the next fiscal year.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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