TMTPOST -- Australian pension and wealth management firm AMP Ltd. has made headlines as one of the nation’s first major retirement managers to invest in cryptocurrency products, allocating approximately A$27 million ($17.2 million) to Bitcoin futures. AMP Senior Portfolio Manager Steve Flegg revealed in a LinkedIn post this week that the fund “took the plunge and made a modest allocation to Bitcoin” earlier this year. An AMP spokesperson confirmed the investment in Bitcoin futures and noted that there are currently no plans to increase the allocation. Bitcoin recently crossed the $100,000 threshold for the first time, marking a gain of over 40% since Donald Trump’s victory in the US presidential election last month. Trump’s pro-crypto stance and promises to create a supportive environment for digital asset firms have further buoyed the cryptocurrency market. Despite this, Australia’s A$4.1 trillion pension system has largely shied away from crypto investments. Reserve Bank of Australia Governor Michele Bullock recently stated that Bitcoin has no significant role in the Australian economy, while the country’s prudential regulator has emphasized the need for “robust risk management controls” when engaging in activities involving digital assets.