Hostplus, one of Australia’s largest industry superannuation funds managing approximately $105 billion in assets, is actively exploring whether to provide members with access to Bitcoin and other digital assets, according to a Bloomberg report. The move would place the retirement giant among a small number of global pension funds willing to take on cryptocurrency exposure. A launch could come as early as next financial year, subject to regulatory approval and internal product development work.
The fund’s chief investment officer, Sam Sicilia, said the initiative centers on Choiceplus, a self-directed investment window that allows members to manage a portion of their own retirement savings, currently representing around 1% of the fund’s total portfolio. Sicilia noted that member demand has been a driving factor, with some writing in to ask why cryptocurrency access is not available. He added that the fund’s view of digital assets has shifted considerably since an earlier assessment roughly a decade ago.
The current review extends beyond Bitcoin to a broader range of digital assets, including potential tokenized exposure to areas such as music rights. Hostplus serves nearly two million members with an average age in the mid-to-late 30s, and the fund is still evaluating consumer protections and product design before any formal offering is introduced. Sicilia did not provide a firm timeline beyond the next financial year estimate.
Jason Titman, CEO of Australian crypto exchange Swyftx, told Decrypt that the decision by one major fund could trigger a broader industry shift. He noted that approximately a quarter of Australians want their superannuation funds to offer digital assets, and that figure is likely to grow as the market becomes more regulated. Titman suggested there is a high probability that other funds would follow once one breaks ranks on crypto assets.
Jonathon Miller, managing director of Kraken Australia, described the potential move as a positive step forward for the sector. He noted that while digital assets are increasingly viewed as a legitimate long-term investment by many Australians, access outside of self-managed super funds has remained limited. Miller said expanding availability through platforms like Choiceplus would give investors more flexibility in building and diversifying their portfolios, benefiting both consumers and the broader market.
Volatility remains a significant concern for funds considering crypto exposure. AMP Super, one of the few funds to have experimented with cryptocurrency, recently reduced its Bitcoin futures allocation to around 0.02% after a sharp market downturn erased roughly $700 billion in value earlier this year. Stuart Eliot, AMP Super’s head of portfolio design, told Investment Magazine last month that the fund had essentially no exposure during most of the recent sell-off. AMP Super had originally added Bitcoin futures through its dynamic allocation strategy in May 2024.
Bitcoin currently trades at $70,599, up 3.6% on the day, according to CoinGecko data. Market sentiment on prediction platform Myriad places a 50.7% likelihood on Bitcoin reaching $84,000 rather than falling to $55,000. The broader regulatory environment in Australia is expected to play a key role in determining how quickly superannuation funds move to formalize any digital asset offerings.
Originally reported by Decrypt.
