AMP Ltd., an Australian pension and wealth management firm, has made a noteworthy investment. They’ve allocated about A$27 million, which is around $17.2 million, into Bitcoin futures.
This move positions AMP as one of the first major retirement managers in Australia to explore cryptocurrency products.
Steve Flegg, the Senior Portfolio Manager at AMP, shared this decision on LinkedIn. He mentioned that the firm decided to “take the plunge and make a modest allocation to bitcoin” earlier this year.
A spokesperson for AMP confirmed that the investment focuses specifically on Bitcoin futures. They also noted that there are no plans to increase this allocation at this time.
This cautious approach reflects AMP's strategy in navigating the evolving landscape of cryptocurrency investments.