Wu said that according to Bloomberg, Coinbase is targeting the potential demand of Australia's growing self-managed pension industry. Its Asia-Pacific managing director John O'Loghlen said the exchange is developing a service for this market segment. The latest data from the Australian Taxation Office shows that such portfolios account for about a quarter of Australia's $2.5 trillion pension system, and 1 billion Australian dollars (664 million US dollars) are allocated to cryptocurrencies. The Australian stock exchange ASX is expected to approve the first spot Bitcoin ETFs on the main board in the coming months.
