AMP Ventures Into Cryptocurrency With Bitcoin Futures Investment

According to Odaily, Australian pension and wealth management firm AMP has become one of the first major retirement fund managers in the country to invest in cryptocurrency products. The company has allocated approximately 27 million Australian dollars (17.2 million USD) into Bitcoin futures. AMP's Chief Investment Officer, Anna Shelley, noted in an email commentary that this investment reflects the "structural changes" in the digital asset industry over the past year. These changes include leading investment managers launching exchange-traded funds (ETFs) that directly invest in Bitcoin and Ethereum. Shelley further explained that after thorough testing and careful consideration by their investment team and committee, AMP incorporated a small, risk-controlled position in digital assets through their dynamic asset allocation plan in May. This exposure represents about 0.05% of their total pension assets. While the Australian Prudential Regulation Authority declined to comment specifically on AMP's investment in Bitcoin futures, it referred to a 2022 letter to the financial industry. The letter stated, "While our superannuation members benefit from this exposure, we fully understand the risk and volatility characteristics of this emerging asset class and will continue to manage our holdings prudently, as part of a highly diversified asset portfolio."