Australian superannuation fund Hostplus is considering offering cryptocurrency exposure to its members as early as next financial year. The $105 billion fund is exploring adding Bitcoin and other digital assets, including tokenized music rights, via its self-directed Choiceplus platform. This follows increased member demand and comes as another fund, AMP Super, reduced its Bitcoin futures exposure ahead of this year’s market decline.
Hostplus is actively exploring how to offer cryptocurrency access to its members. The $105 billion retirement fund is looking at a potential launch within its self-directed Choiceplus window, which currently allows members to manage about 1% of the fund’s total assets.
Chief Investment Officer Sam Sicilia stated that member demand is a driving factor. “There’s certainly a demand from some of our members who write in and say, ‘Why can’t I have access to cryptocurrency?’” he told Bloomberg. A launch could occur as soon as the next financial year, pending regulatory approvals.
The fund’s review extends beyond Bitcoin to a wider universe of digital assets. Sicilia mentioned potential tokenized exposure to areas like music rights, indicating an evolved perspective from a decade ago. Industry experts view the potential move as significant for broader market access.
Jason Titman, CEO of crypto exchange Swyftx, noted a likely industry shift if Hostplus proceeds. He said around a quarter of Australians want their super funds to offer digital assets. Kraken Australia‘s Jonathon Miller called it a “positive step forward” for giving investors more portfolio flexibility.
The move coincides with increased caution from another early adopter. AMP Super, the first Australian fund to back crypto, has dramatically reduced its Bitcoin futures position. Portfolio head Stuart Eliot told Investment Magazine the fund had “essentially no exposure” during most of the recent market sell-off.
Bitcoin is currently trading near $70,600, according to CoinGecko data. On prediction platform Myriad, users see a 50.7% probability of the cryptocurrency reaching $84,000 rather than falling to $55,000.
