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ART unfazed by SEC's Bitcoin green light superreview.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from superreview.com.au Daily Mail and Mail on Sunday newspapers.
Super funds face 'interesting conundrum' with crypto allocations superreview.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from superreview.com.au Daily Mail and Mail on Sunday newspapers.
Byron Goldberg, country manager for Luno Australia, a cryptocurrency platform, said he did not believe there was any regulatory reason for super funds to exclude cryptocurrency, although it was the subject on an ongoing consultation by the Australian Securities and Investments Commission (ASIC). Goldberg said if more exchange traded funds (ETFs) started investing in cryptocurrency then it would be likely super funds would end up holding underlying exposure to it. “Regulated ETFs will give investment managers the opportunity to buy at an institutional level, retail investors easy access to crypto via traditional equity platforms, and potentially have these ETFs included in broader funds and indexes as a standard part of an investor’s portfolio mix. Overnight, Bitcoin can become an everyday asset in a Super’s portfolio.” ....
Speculative crypto trading poses a major headache for regulators, with most novice buyers dipping their toes into the markets without basic trading knowledge. According to Blockchain data analytics firm Glassnode, newer investors and short-term holders led the recent bout of crypto panic-selling, crystallising their losses after buying in at the top. Unsplash The wild swings in bitcoin value are another reminder of crypto’s hyper-volatility. New Zealand regulators remain on alert as crypto becomes part of the mainstream investment conversation. But they are limited to giving broad guidance and warnings. The Reserve Bank has published a “buyer beware” warning in its past market analysis, but doesn’t treat cryptocurrencies as proper currencies. And while the Financial Markets Authority regulates businesses operating in the sector, such as Easy Crypto, it doesn’t have any oversight of trading. ....
The assets may be speculative, but NZ Funds has an investment case. James Grigor eats, sleeps and breathes NZ Funds’ $2 billion-plus funds under management. In an hour-long conversation, the ex-military man turned chief investment officer jumps from investment stalwarts Warren Buffett and Benjamin
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