Australian Pension Fund AMP Enters Bitcoin Futures Market

AMP becomes one of Australia’s first pension funds to invest in Bitcoin futures. Australian pension system remains cautious, with limited crypto asset inclusion. Global pension funds, like Michigan and South Korea, are exploring digital assets. AMP Ltd., an Australian pension fund with $57 billion in assets, has entered the crypto market by investing $27 million in Bitcoin. This investment makes AMP one of the first asset holders in Australia to invest in digital assets. However, the Australian pension system , valued at $4.1 trillion, has been hesitant to embrace crypto assets. Most pension funds are worried about putting digital assets in their portfolios. Steve Flegg, AMP’s Senior Portfolio Manager, explained that the firm’s Bitcoin futures investment is part of its plan to adjust to the expanding digital assets market. Furthermore, AMP’s Chief Investment Officer, Anna Shelley, pointed out that the investment in Bitcoin futures represents just 0.05% of the company’s total pension assets. This move comes after a year of digital asset changes, including the launch of Bitcoin and Ether ETFs by major investment managers. These products have helped m… The post Australian Pension Fund AMP Enters Bitcoin Futures Market appeared first on Coin Edition .