- Crypto exchanges Coinbase and OKX are targeting Australia’s superannuation system, launching products aimed at getting more Aussies investing in crypto through a self-managed super-fund (SMSF).
- OKX launched their SMSF product in June while Coinbase plans to launch theirs in the coming months — both exchanges say they’ve seen strong demand from their customers.
- Aussie regulators continue to warn that crypto may not be suitable for retirement funds citing its high volatility and potential for significant losses.
Some of the world’s leading cryptocurrency exchanges are eyeing Australia’s AU$4.3 trillion superannuation system in a bid to attract new investors and continue to drive the growth of the industry.
Coinbase and OKX, two of the world’s largest crypto exchanges, are both targeting Aussie self-managed superannuation funds (SMSFs), reflecting the growing adoption of crypto by mainstream investors but also raising concerns in some quarters around the suitability of crypto — a notoriously volatile asset class — for retirement savings.
In June, OKX launched its product targeting SMSFs. OKX’s Australian-based CEO Kate Cooper told Bloomberg that demand has exceeded expectations.
Coinbase is currently preparing to roll out its SMSF product, with the launch expected in the next few months. John O’Loghlen, the company’s Asia-Pacific managing director, said there’s already a waiting list of over 500 investors awaiting access. A Coinbase poll of customers on its waiting list found 77% plan to invest up to AU$100,000 in digital assets.
Both OKX and Coinbase will offer services to help customers establish their SMSF, including facilitating access to lawyers and accountants.
SMSFs currently account for around a quarter of all funds sitting in Australia’s overall superannuation pool. Because they’re managed directly by the account owner, it’s easier for these funds to invest in higher risk assets like crypto. Regular super funds mostly continue to avoid crypto for now — so far, the only Australian super provider to publicly disclose an investment in cryptocurrency is AMP.
Speaking to Bloomberg, Fabian Bussoletti, the technical manager at the SMSF Association, said “it does make sense that we’re probably seeing a bit more interest in crypto in the self-managed super fund space first.” He added, “perhaps the larger funds will catch up over time.”
According to data from the Australian Taxation Office (ATO) published in May, only around AU$1.7 billion held in Aussie SMSFs was invested in cryptocurrency as of March 2025. While this is a relatively small amount, it’s up around seven-fold from the figure the ATO reported in 2021.
Related: AMP Buys $27 Million in Bitcoin, an Australian First for Super Funds
Crypto’s Volatility May Not Be Right For Super Funds, Regulators Warn
Despite its growing mainstream acceptance and the track record of larger cryptocurrencies, like Bitcoin and Ethereum, many regulators continue to warn that crypto investments aren’t suitable for superannuation funds.
In statements shared to Bloomberg, the Australian Investments and Securities Commission (ASIC) and Australian Tax Office (ATO) both voiced warnings. ASIC said, “these are highly volatile products and over-exposure can lead to substantial losses.” It argues consumers should engage the services of an accountant or financial advisor to help them set up their SMSF.
Related: Aussies Reject Pension Titans, Turn to Crypto and Self-Managed Super Funds
The ATO suggested crypto’s volatility may make it too high of a risk for inclusion in something like a retirement fund: “we remind those that are thinking of setting up an SMSF that the objective of superannuation is to preserve savings to deliver income for a dignified retirement.”
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