“It’s still a very volatile investment, so any allocation exposure we make to cryptocurrencies is likely to be part of our diversified portfolio,” said Rest Super’s CIO Andrew Lill on Tuesday.

Australian superannuation fund Rest Super is set to become the first retirement fund in the country to invest in cryptocurrencies.

The fund has more than $46.8 billion worth of assets under management (AUM) and around 1.8 million members. Superannuation is the equivalent of a 401k or Individual Retirement Account in the U.S. and is compulsory for all employees. Until now the $2.4 trillion sector has been extremely cautious about cryptocurrency.

During Rest Super’s annual general meeting on Nov. 23, the firm’s chief investment officer Andrew Lill told members that the company sees digital assets as an “important part” of its portfolio moving forward but will proceed “carefully and cautiously,” noting that:

“It’s still a very volatile investment, so any allocation exposure we make to cryptocurrencies is likely to be part of our diversified portfolio as initially a fairly small allocation that may, over time, build.”

Lill went on to add his view that offering members exposure to crypto and blockchain tech could provide a “stable source of value” amid a time in which investors are flocking to crypto as a hedge against fiat-based inflation.

“I do think that, in an era of inflation, it could be a potentially good place to invest,” he said.

Following the CIO’s speech, a Rest spokesperson clarified in a statement that it is “certainly considering cryptocurrencies as a way to diversify our members’ retirement savings [but] will not be investing in the immediate future.”