Queensland Investment Corporation, one of the biggest pension funds in Australia, is interested in cryptocurrencies. The pension fund is looking forward to exploring the crypto sector, as reported by the corporation’s director and head of currency, Stuart Simmons.
Significant Milestone for Australian Crypto Adoption
The corporation manages A$92.4bn, gaining it a fifth place among all Australian pension funds, therefore crypto adoption from it would have a great impact on the entire crypto industry in Australia.
Simmons started by claiming that there is no certainty when it comes to super funds and crypto investment, however, he added that ‘super funds seek out exposure’, indirectly expressing interest in crypto when asked by Financial Times.
Rising Popularity of Cryptoassets
Jeff Yew, who resigned as Binance Australia’s chief executive officer in April and is now the chief executive of Monochrome Asset Management, was invited to The Age and The Sydney Morning Herald where he discussed the rise of Bitcoin.
Things have changed greatly for portfolio managers and the risks they would take, if we compare today with thirty years ago, started Yew. For instance, they would not accept high-yield bonds before, yet now they are used in most diversified asset portfolios.
If Bitcoin is seen from this view, people can tell that the prices will keep going up, concludes Jeff Yew.
Australian Funds and Possible Crypto Investments
Institutional investors, influenced by the nation’s friendly approach towards crypto, are keeping an eye on them, considering crypto adoption in the near future. Consequently, some of the biggest funds in the place are thinking about turning to crypto.
ETF Securities, an Australian Securities fund, confirmed that they had entered the Australian stock market, Chi X, giving Australians the opportunity to access crypto firms like Galaxy Digital and Coinbase.
Evan Metcalf, the head of product in ETF Securities, explained that their innovation-led funds will be focused on financial technology.
One of the company’s main strategies to launch a series of innovation-driven funds, as noted by Metcalf, is the product. A semiconductor fund and a hydrogen fund were already launched. Finally, Fintech is the missing piece of the puzzle to complete the process, concluded the representative from ETF Securities.
Also Read: Payment Company Stripe to Embrace Crypto Again 3 Years After Leaving Bitcoin