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Two of the largest centralized cryptocurrency exchanges, Coinbase and OKX, are introducing services for self-managed superannuation funds (SMSFs ) in Australia, giving individuals new ways to add cryptocurrency to the country’s retirement savings system.
While Australians have been able to hold digital assets in SMSFs for several years, Coinbase and OKX are now packaging that access into dedicated products, Bloomberg reported on Monday.
Instead of leaving investors to set up their own structures and manage custody independently, the exchanges offer services that combine referrals to accountants and law firms with integrated custody and record-keeping to meet audit requirements.
SMSFs account for about a quarter of Australia’s retirement pool and held about A$1.7 billion (US$1.1 billion) in digital assets as of March 2025, according to the Australian Tax Office. That total is up sevenfold since 2021, making SMSFs the first part of the system to show significant crypto exposure.
Coinbase told Bloomberg that more than 500 investors have joined the waiting list for its SMSF service, with most planning to allocate up to A$100,000 each in digital assets. OKX launched a similar offering in June and said demand has exceeded expectations.
The shift lowers barriers for mainstream investors and marks one of the first organized efforts by major exchanges to tap into a retirement system that ranks among the largest in the world on a per-capita basis.
Related: Bitcoin-backed mortgages debut in Australia amid housing crisis
Crypto rules for retirement plans shift in the US
Australia’s experiment with SMSFs comes as other major economies weigh how retirement money should interact with digital assets, most notably the United States.
Fidelity Investments was the first major provider to test crypto in retirement, launching a Bitcoin 401(k) option in April 2022. The product initially allowed participants to allocate up to 20% of their savings to Bitcoin (BTC) if employers opted in, but it quickly drew pushback from the Department of Labor, which warned fiduciaries to exercise “extreme care” with crypto exposure.
That position held until May 2025, when the Labor Department formally rescinded its cautionary guidance and restored discretion to plan sponsors.
The most notable advancement for crypto in US retirement policy came on Aug. 7, when US President Donald Trump signed an executive order titled “Democratizing Access to Alternative Assets for 401(k) Investors.”
The order directed the Department of Labor to revisit retirement-plan rules, paving the way for alternative assets like cryptocurrencies to be included in 401(k)s and other defined-contribution accounts.
Unsurprisingly, it was met with both praise and criticism. Labor Secretary Lori Chavez-DeRemer welcomed the order, saying, “The federal government should not be making retirement investment decisions for hardworking Americans, including decisions regarding alternative assets… This Executive Order further supports our efforts to improve flexibility and eliminate unfair one-size-fits-all approaches.”
But critics warned it could put savers at risk. Chris Noble, policy director at the Private Equity Stakeholder Project, said in a statement the move could “primarily benefit private equity firms at the expense of retirement security for millions of Americans.”
There are also increasing concerns about potential conflicts of interest. Alongside passing crypto-friendly legislation and executive orders, Trump and his family are heavily invested in the space.
On Monday, the World Liberty Financial (WLFI) token, a project backed by the Trump family, made its trading debut after selling about a quarter of its supply in a private offering that raised more than $500 million.
Magazine: Baby boomers worth $79T are finally getting on board with Bitcoin
Unlock the Secrets of Ethical Hacking!
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