CPPI said it has not made any direct investments in cryptocurrencies. The decision by CPPI also comes after the collapse of cryptocurrency exchange FTX and cryptocurrency lender Celsius this year, which led to the write-off of investments by two of Canada’s largest pension funds.
There hasn’t been any prior reporting on the specifics of CPPI’s pursuit of cryptocurrency investment and its decision to discontinue it. Following the FTX fiasco, Canadian pension funds’ exposure to the cryptocurrency sector has come under scrutiny.
Although it is legal for Canadian pension funds to purchase cryptocurrencies, they are renowned for their cautious investment approaches that produce steady returns for retirees.