Cryptocurrency has emerged as a solid investment vehicle despite criticism. Bitcoin, for example, was a top-performing asset of the 2010s and remains attractive with new wins like the spot ETF. Now, Coinbase is looking to offer more crypto options to Australians. According to reports, Coinbase is developing a new service targeting self-managed pensions in Australia, allowing them to add crypto to their portfolios.
Retirement is a major issue for consumers’ finances, and many Australians are getting more involved in cryptocurrency as an asset class. People are investing in crypto presales, trading tokens, and even gambling with crypto in Australian casinos to increase their holdings. From anonymous casino-goers to part-time traders, the demand for crypto in Australia continues to grow.
Coinbase’s upcoming service for self-managed pension funds is not the first of its kind. More centrally managed pension funds are starting to include crypto assets, adding legitimacy to the asset class. With crypto being a good store of value and a hedge against inflation, it makes for a good investment for pension funds. Coinbase aims to bring these benefits to the Australian market with this new service.
The approval of spot Bitcoin ETF and the recent spot Ether ETF have attracted billions of dollars from investors. While some may prefer ETFs as a way to invest in cryptocurrency, Coinbase’s new service is looking to cater to self-managed funds and not compete with existing funds. The Australian market shows potential for growth in this sector, with $664 million in self-managed funds allocated to crypto as of 2024.
The growing acceptance of crypto assets in pension funds reflects how far the industry has come in the public eye. What was once considered a scam or a worthless investment is now trusted with future finances. Regardless of the performance of Coinbase’s new venture, it signifies a win for the industry and demonstrates the evolving nature of investment options in the crypto sector.
The crypto industry’s growth and the multitude of investment options available, such as ETFs and Coinbase’s new service in Australia, provide consumers with choices for investing in various assets. As more tokens are used in pension funds, their value is expected to remain high as funds mature. This indicates that the crypto industry is likely to thrive for years to come, challenging critics who have predicted its downfall.
