tl;dr
American cryptocurrency exchange Coinbase Global Inc. is developing a service to meet the increasing demand for digital assets in Australia's $600 billion self-managed pension niche. The move aims to tap into a significant portion of Australia's $2.5 trillion pension system, where about $664 million...
Coinbase Global Inc. developing service for Australia's self-managed pension niche
American cryptocurrency exchange Coinbase Global Inc. is developing a service to meet the increasing demand for digital assets in Australia's $600 billion self-managed pension niche. The move aims to tap into a significant portion of Australia's $2.5 trillion pension system, where about $664 million is allocated to digital assets.
Australian institutional money managers cautious about crypto assets
Despite institutional money managers in Australia showing little interest in crypto assets due to concerns about volatility and scandals, Coinbase is focusing on catering to self-managed super funds with a tailored offering.
United States SEC approval of spot Bitcoin ETFs impacting crypto ecosystem
The broader crypto ecosystem has seen a surge following the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC), with Australia also considering launching spot crypto ETFs. However, concerns about the risks associated with crypto usage and investment persist in the region.
Australia considering launch of spot crypto ETFs, amid caution and growing interest
Australia may launch spot crypto ETFs with firms like Van Eck Associates Corp. and BetaShares Holdings Pty lining up offerings. Despite cautionary advice from wealth management professionals, firms like Wells Fargo continue to increase their crypto holdings.
COINBASE TO RIDE ON AUSSIE CRYPTO LOOPHOLE
John O’Loghlen, Asia Pacific Managing Director at Coinbase, confirmed the service's development. Approximately $664 million is allocated to digital assets within Australia's self-managed pension system, presenting a potential opportunity for growth.
AUSTRALIA MAY LAUNCH SPOT CRYPTO ETFS
Australia may follow the U.S.'s path in launching spot crypto ETFs, with firms like Van Eck Associates Corp. and BetaShares Holdings Pty preparing offerings. However, concerns about the risks associated with crypto usage and investment persist in the region.
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