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SHIBUSD SHIBA INU

0.000028
0.00 (0.00%)
01:16:20 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
SHIBA INU SHIBUSD Crypto 16,499,240,082 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  0.00 0.00% 0.000028 0.000028 0.000028
High Price Low Price Open Price Prev. Close 52 Week Range
0.000028 0.000028 0.000028 0.000028 - - -
Exchange Last Trade Size Trade Price Currency
GDAX 01:16:20 8,913.00 0.000028 USD
Price x Volume Volume Base Symbol Related Pairs
3,644,996.69 129,765,162,535.58 SHIB SHIBEUR SHIBGBP SHIBBTC

Australia’s Biggest Pension Fund Makes Historic $17M Bitcoin Investment, A National First

13/12/2024 10:30am

NEWSBTC


In a groundbreaking move for the Australian pension industry, AMP Ltd., a prominent pension and wealth management firm, has allocated approximately A$27 million (around $17.2 million) to Bitcoin (BTC) futures.  This investment marks AMP as one of the first major retirement managers in Australia to embrace cryptocurrency products, reflecting a shift in attitudes toward digital assets within a traditionally conservative sector. AMP’s Bitcoin Futures Investment AMP’s Senior Portfolio Manager, Steve Flegg, announced the decision on LinkedIn, noting that the firm “took the plunge and made a modest allocation to Bitcoin” earlier this year.  A corporate representative told Bloomberg that the investment was primarily in Bitcoin futures and that there are currently no intentions to raise this commitment. Related Reading: Shiba Inu Surges 14% In A Day: Is An additional 180% Rally Within Reach? The move comes after BTC recently reached the $100,000 barrier for the first time, rising by more than 40% since Donald Trump’s victory in the US presidential election in November.  Trump, known for his pro-crypto position, has vowed to create a more favorable regulatory environment for digital-asset enterprises, hence increasing interest in cryptocurrencies, and has proposed the establishment of a national Bitcoin stockpile. Despite AMP’s pioneering steps, the broader Australian pension sector, valued at A$4.1 trillion, has shown limited enthusiasm for cryptocurrency investments.  Reserve Bank of Australia Governor Michele Bullock has stated that Bitcoin does not play a significant role in the Australian economy. Furthermore, regulators have cautioned that robust risk management practices must be employed when engaging with digital assets. The Australian pension industry has faced scrutiny over various issues, including valuation concerns in unlisted markets, customer service, and investment fees.  Recently, many pension products offered by AMP failed an annual performance test designed to identify underperforming retirement products, with several failing for a second consecutive year. Crypto ETFs Fuel AMP’s Investment Strategy The decision to invest in Bitcoin futures is indicative of the “structural changes” occurring within the digital-assets landscape, according to AMP’s Chief Investment Officer, Anna Shelley.  She pointed to the recent launch of exchange-traded funds (ETFs) in the US that invest directly in Bitcoin and Ethereum (ETH) by leading investment managers as a significant development. “Following testing and careful consideration by our investment team and committee, we included a small and risk-controlled position in digital assets through our Dynamic Asset Allocation program in May,” Shelley explained.  Related Reading: Solana To New ATH Before Christmas – Analyst Expects $300 Soon The exposure to BTC futures constitutes about 0.05% of AMP’s total pension assets, illustrating a cautious yet progressive approach to digital asset investment by the Australian asset manager. While AMP acknowledges the potential benefits of exposure to cryptocurrencies, the firm remains acutely aware of the associated risks and volatility. Shelley noted that although their superannuation members have gained from this exposure, the investment is part of a highly diversified asset mix and will be managed with careful oversight. At the time of writing, the market’s leading crypto is trading at $99,800, recording a slight 1.1% decrease in the 24-hour time frame. Featured image from DALL-E, chart from TradingView.com

1 Year SHIBA INU Chart

1 Year SHIBA INU Chart

1 Month SHIBA INU Chart

1 Month SHIBA INU Chart

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