Australia's Rest Super retirement fund plans to invest in cryptocurrency
Andrew Lill, chief investment officer of Rest Super, Australia's largest retirement fund, revealed plans to invest some funds in virtual assets. This makes Rest Super the first major retirement fund in Australia to make crypto investments. This shows a growing loyalty and acceptance of cryptocurrencies by Australian institutional investors.
"Virtual assets are quite volatile, so we will only invest a small part of our funds so that we can make cryptocurrencies part of our diversified portfolio. At first, the amount invested will be small, but over time it can grow. We see great potential in this asset class, so in the future, cryptocurrencies may become a significant part of our investment portfolio," Andrew said.
Rest Super is one of the largest retirement funds in Australia, with more than $47 billion in assets and nearly 2 million members.
Recall that Australia's largest bank, Commonwealth Bank, announced supporting cryptocurrencies in early November, and more than 25% of Australian crypto users plan to buy crypto-related Christmas gifts.