Value of Australian super fund’s crypto holdings rises to over A$650 million

According to an Australian Tax Office report, the value of crypto assets held in Australia’s self-managed super funds (SMSF) has exceeded A$650 million (A$1 billion).

The latest data shows that the value of crypto assets held by SMSFs has quadrupled from $159 million three years ago. About two years ago, SMSFs held zero crypto assets.

The report noted that the value of digital assets held in SMSFs is still far lower than the amount of traditional currencies held in such privately managed funds.

Jason Titman, chief operating officer of Swyftx, said: “A large number of cryptocurrency investors in Australia want to allocate at least a certain proportion of their retirement funds to cryptocurrencies.”