Australian Pension Fund Reveals Rare Wager on Bitcoin Futures
4 weeks, 1 day ago

Australian Pension Fund Reveals Rare Wager on Bitcoin Futures

Live Mint  

-- Australian pension and wealth firm AMP Ltd. has become one of the nation’s first large retirement managers to invest in cryptocurrency products, allocating about A$27 million to Bitcoin futures. Reserve Bank of Australia Governor Michele Bullock recently said Bitcoin has no role in the Australian economy, while the prudential regulator previously warned “robust risk management controls” must be used when engaging in activities involving digital assets. The Bitcoin futures investment recognizes “structural changes” in the digital-assets industry over the past year, including the launch of exchange-traded funds that invest directly in Bitcoin and Ether by leading investment managers, AMP’s Chief Investment Officer Anna Shelley said in emailed comments. The Australian Prudential Regulation Authority declined to comment on AMP’s investment in Bitcoin futures, instead referring Bloomberg to a 2022 letter to the financial sector.

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