Australians Double Their Crypto Exposure in Self-Managed Superannuation
Categories: Crypto News US
Australians Double Their Crypto Exposure in Self-Managed Superannuation
Australians have doubled their exposure to crypto as an asset class in self-managed super funds (SMSFs), according to the latest available figures.The most recent SMSF statistical overview report released by the Australian Tax Office (ATO) shows 0.6 per cent of the SMSF cohort held cryptocurrency as at June 30, 2020, compared with 0.3 per cent the previous year.
Crypto Exposure in SMSFs Growing Fast
This equates to A$227 million of a total of $8.4 billion invested in SMSFs, with crypto held in about 3,600 funds out of a total 600,000. The average crypto investment component is $34,000, a small figure in relative terms but growing fast.Comparing the 0.6 percent of SMSF exposure to the 18 percent of all Australians who hold crypto, there is a clear gap waiting to be exploited that only emphasises the vast potential of the self-managed superannuation space.
About New Venture Wealth
Melbourne-based New Venture Wealth’s stated aim is to simplify investing in crypto through a self-managed super fund. Since it was founded in 2020, the company has specialised in the provision of crypto-based SMSFs and focuses on maintaining a high level of customer service, care and contact.
Free Webinars This Month
New Venture Wealth is running free webinars during May with the focus on educating beginners about how they can get into crypto via an SMSF. Each webinar runs for about 30 minutes and covers topics such as: