Cryptocurrency prices are hitting their all-time high records and more bullish news are knocking doors of investors.

At the end of October, Australian regulators started accepting exchange-traded funds. In other words, Bitcoin and Ether ETFs trading on Australia’s stock markets will start in the coming months.

The move is a "very, very exciting" development for the world of digital assets, according to Sui Chung, CEO of CF Benchmarks, a financial data company. CF Benchmarks' data underpins CME Group's crypto futures and is used by many crypto exchange-traded products.

Chung said that Australia’s acceptance of crypto ETFs is a huge milestone. This is because the move will bring more exposure to the market.

Australia is the 5^th largest pool of pension assets in the world with $2.33 trillion according to a report by insurance giant Willis Tower Watson. The pool is growing exponentially following Australia’s contribution to the system, which mandates relatively high payments.

Willis Towers Watson said that Australia's pension market the most successful in the world, "featuring 20-year pension asset growth of 11.3% per annum, in USD terms."

"What you're going to see is literally every month, another $50 million or $100 million will go into crypto ETFs," Chung added. "It doesn't take very long before that becomes a pretty big number."

Australia's growing interest in cryptocurrencies

There are several signs that Australia’s pension market is interested in crypto. For instance, Queensland Investment Corporation – a manager of $69 billion of assets told the Financial Times it is open to the idea of getting into cryptocurrencies.

Meanwhile, Australia’s financial regulator released a set of guidelines for crypto exchange-traded products at the end of October, which emphasize security. It would allow funds to offer ETFs for cryptos.

The US Allowed bitcoin futures ETF to launch but is yet to decide on whether to allow a fund based on bitcoin itself.

Cryptocurrencies such as bitcoin and ether surged to new all-time highs on Tuesday. Bitcoin was last up 1% to $66,724 on the Bitstamp exchange, while ether was flat at $4,784.