Cryptocurrencies are flooding into Australia's 4.30 trillion Australian dollar savings pool through self-directed pensions

Australia's A $4.30 trillion superannuation system - long regarded as one of the world's most regulated pools of savings - is emerging as the new frontier for cryptocurrencies.
Coinbase and OKX have launched products for pension investment in cryptocurrencies, marking the further penetration of digital assets into the mainstream financial system. Its initial focus is on self-managed pension funds (SMSFs), which are self-managed by investors and already account for a quarter of the Australian pension market. Unlike mainstream pensions, which generally shun cryptocurrency assets, SMSFs give individuals full investment autonomy.
A spokesperson for the Australian Securities and Investments Commission (ASIC) said: "These products are extremely volatile and excessive exposure can lead to significant losses." The agency also advised consumers to consult an accountant or financial adviser before setting up an SMSF. It stressed: "We remind those considering setting up an SMSF that the core objective of the pension system is to preserve and increase value and ultimately provide individuals with the income they need for a decent retirement." (Zhitong Finance)