Australian Taxation Office: As of the end of the third quarter, nearly 612,000 self-managed superannuation funds held a total of $658.6 million in cryptocurrency

ChainCatcher news, according to Cointelegraph, based on statistics released by the Australian Taxation Office (ATO), as of the end of the third quarter in September, nearly 612,000 self-managed super funds (SMSFs) held a total of $658.6 million in cryptocurrency, a 400% increase compared to $131.5 million in the same period of 2019.

Danny Talwar, the tax director of cryptocurrency tax provider Koinly, stated that as of the end of the last quarter, cryptocurrency accounted for only 0.1% of the total net assets held by Australian SMSFs. Smaller SMSFs tend to allocate more cryptocurrency in their portfolios.