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Two of the world’s biggest crypto exchanges, Coinbase and OKX, are breaking into Australia’s $3.5 trillion retirement system. Their new products let self-managed superannuation funds (SMSFs) hold crypto more easily.
Crypto Meets Pensions
Australians have been able to add digital assets to SMSFs for years. But Coinbase and OKX now offer a full package: referrals to accountants and lawyers, plus integrated custody and record-keeping. This makes compliance and audits far simpler.
SMSFs manage about a quarter of the country’s retirement money. By March 2025, they held A$1.7 billion ($1.1B) in crypto — seven times more than in 2021. That makes SMSFs the first part of Australia’s system with notable crypto exposure.
Demand Surges
Coinbase says over 500 investors have joined the waitlist for its SMSF service. Most plan to allocate up to A$100,000 each. OKX launched in June and says demand already exceeds expectations.
This is one of the first major pushes by top exchanges to tap retirement savings. It lowers barriers for mainstream investors and connects crypto to one of the world’s largest per-capita retirement pools.
US Rules Shift Too
Australia’s experiment comes as the US rewrites its own rules. Fidelity was first to offer Bitcoin in a 401(k) in 2022, allowing up to 20% allocations. Regulators quickly pushed back, warning of risks.
That changed in May 2025, when the Department of Labor rescinded its guidance. Then in August, President Donald Trump signed an order to “Democratize Access to Alternative Assets for 401(k) Investors.” It gave plan sponsors more freedom to include crypto.
Debate Heats Up
Supporters call the move a win for flexibility. Labor Secretary Lori Chavez-DeRemer said the government should not choose investments for working Americans. Critics, however, argue it puts retirement security at risk and benefits private equity.
Adding to the controversy: Trump and his family are heavily invested in crypto. On Monday, the WLFI token — backed by the Trump family — debuted after raising over $500 million in a private sale.
(SMSF: a retirement fund where individuals manage their own investments. 401(k): a US retirement savings plan tied to employers.)
