REST has announced that it would invest in crypto, becoming the first Australian superannuation fund to adopt the asset class.
Super’s Chief Investment Officer Andrew Lill told its members that the company would make a small initial fund allocation to cryptocurrencies. Lill said that the firm is researching the industry security and regulatory aspects.
The fund manager says it is considering medium-term exposure in the digital assets, although it is not inclined to commit to an immediate future investment.
The Chief Operating Officer at Independent Reserve, Lasanka Perera, says that most fund managers have exposure to digital assets. Perera maintains that larger companies could soon enter to generate capital gains and yields in crypto markets despite hesitation.
The Australian senate committee proposed a government-backed licensing regime covering digital assets last month. Perera says that such a move could trigger more institutional adoption of crypto.
Source: Business Insider
