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 5th 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.”