“This shift signals a broader change in how Australians are thinking about wealth, risk, and opportunity.”

Lucas told SMSF Adviser that for SMSF trustees, digital assets offer a new frontier – one that aligns with their desire for autonomy and tailored investment strategies.

“Crypto gives investors direct control over their assets, without relying on intermediaries or traditional gatekeepers.”

There are a number of key factors that are driving the uptake of crypto, she said. First, the maturing of the crypto market itself.

“[There is also] greater regulation, improved custody solutions, and more robust infrastructure, which has made it easier for trustees to engage with confidence,” she said.

“Additionally, the macroeconomic environment has prompted investors to look beyond traditional assets in search of growth, diversification, and inflation hedges.”

However, Lucas said, most importantly, crypto represents a generational shift in how Australians view value.

“From Boomers to business owners, there’s a growing recognition that digital assets are not just speculative tools, they’re part of the future financial system.”

“Looking ahead, the tokenisation of real-world assets (RWAs) will be a game-changer for SMSFs. By enabling fractional ownership of property, infrastructure, and other traditionally illiquid assets, tokenisation will open new avenues for diversification and access. It’s a natural fit for SMSFs, which are already geared toward bespoke, long-term investment strategies.”

She said in many ways, SMSFs are leading the next wave of institutional-style adoption in Australia.

“They’re not just investing in crypto; they’re helping to define what the future of retirement looks like.”

According to the latest ATO data, crypto ownership stagnated in the second quarter of 2025. However, crypto trading platform Swyftx said it is expecting that in the Q3 data, expected to be released in December, there may be an uptick between July and September, with both trading volume and unique SMSF accounts increasing similarly quarter-on-quarter.

Additionally, Swyftx said SMSF accounts significantly outpaced other account types in terms of buy/sell ratio (2.5 versus 1.13 for personal) throughout the previous quarter, suggesting it was an accumulation phase for SMSF investors.

Robert Francis, managing director of eToro Australia, said the way Aussies build their nest eggs is shifting, with crypto now being embraced in more SMSFs than real property.

From its analysis of its own data, eToro found more than one in four (29 per cent) Aussie SMSF owners have crypto assets in their portfolio and it has overtaken real property (28 per cent) as a more commonly held asset, also closing in on stocks listed overseas (30 per cent).

Furthermore, eToro found that it is younger Australians with SMSFs leading the shift towards holding digital assets in their retirement portfolios, with 36 per cent of 18-27-year-olds and 35 per cent of 28-43-year-olds currently holding crypto.

“Crypto is also more popular than overseas stocks for these generations. Only 19 per cent of 18-27-year-olds and 33 per cent of 28-43-year-olds hold overseas stocks in their SMSFs,” Francis said.

“This shift reflects a growing acceptance of digital assets as lucrative, long-term investments, especially as younger generations of investors start to take control of their retirement savings.

“Despite still being viewed by some as a speculative asset, younger Australians are increasingly recognising the long-term potential of crypto. What we’re seeing is a generational shift – younger SMSF investors are more open to diversifying their portfolios beyond traditional assets like property and equities, and are willing to back digital assets as part of their retirement strategy."