Major Australian pension fund explores cryptocurrency investments

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Hostplus assesses digital investments

Investor demand and a cautious approach

Hostplus manages more than AUD 150 billion (about $105 billion) in assets and is exploring offering access to Bitcoin and other digital assets through Choiceplus. Currently, this program accounts for only about 1% of the fund’s total assets.

Chief Investment Officer Sam Sicilia said the initiative is largely driven by client demand: “There’s certainly a demand from some of our members who write in and say ‘why can’t I have access to cryptocurrency?’”.

According to him, the launch could take place as early as the next financial year, though much will depend on regulatory approval and the development of investor protection mechanisms. “We’d love to get regulatory tick off, even if it means waiting another six months,” he said, adding: “We are long-term investors. Six months doesn’t really move the dial for us.”

Overall, Australia’s pension sector, valued at around AUD 4.5 trillion, remains cautious toward crypto assets. Only a few players, such as AMP, have experimented with Bitcoin futures.

Cryptocurrencies in pension strategies

At the same time, interest in digital assets is already evident within self-managed superannuation funds. According to regulators, about AUD 3 billion has been invested in cryptocurrencies through these structures.

Sicilia noted that perceptions of crypto assets are evolving: “We’re now at the stage where we’re revisiting digital currencies, not just Bitcoin, but just the broader range of digital currencies.”

The fund is also considering assets beyond traditional cryptocurrencies, including tokenized rights such as music royalties.

What it means for the market and investors

If Hostplus proceeds, it could signal a shift across the pension industry. Until now, major funds have largely stayed on the sidelines, but regulated access to crypto assets could begin to change that.

Retail investors in Australia are already showing interest in digital assets, particularly through self-managed funds. The involvement of large institutional players could redirect capital into more transparent and regulated channels.

More broadly, this points to the gradual inclusion of cryptocurrencies in long-term investment strategies. However, the stance of regulators will remain critical in shaping access and investor protections.

Institutional interest is also rising. Norway’s sovereign wealth fund recently increased its indirect Bitcoin exposure by 149%, bringing it to 9,573 BTC. NBIM does not hold Bitcoin directly but invests through stakes in crypto-related companies such as Coinbase, Strategy, Block, Metaplanet, and MARA. This approach shows that even the largest investors prefer indirect exposure, reducing direct market and regulatory risks.

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