“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.
