Colombia’s second-largest private pension fund manager, AFP Protección, is getting ready to launch an investment fund that includes exposure to bitcoin. The move shows that large financial institutions in the country are slowly beginning to explore digital assets, but in a careful and controlled way.

The plan was confirmed by Juan David Correa, president of Protección SA, in an interview with Valora Analitik, a local media. He explained that the bitcoin fund will not be open to everyone. Only clients who go through a personalized advisory process and meet specific risk criteria will be allowed to invest.

Correa said the main goal of the fund is diversification, not speculation. He said:

Protección has made it clear that bitcoin exposure will be limited. Investors must actively choose to participate and must first have their risk tolerance and financial goals reviewed.

The fund is mainly aimed at voluntary pension accounts or customized investment strategies, not mandatory retirement savings. This cautious approach reflects concerns about bitcoin’s price swings and the sensitivity around pension money.

Retirement savings are a serious issue in Colombia, and any increase in risk can cause public concern. By keeping bitcoin exposure small and optional, Protección hopes to reduce both financial and reputational risks, and slowly introduce this new asset class to the public.

Protección is not the first pension manager in Colombia to move in this direction. Skandia Administradora de Fondos de Pensiones y Cesantías began offering bitcoin exposure in one of its portfolios last year. With Protección joining in, two major pension administrators now offer limited access to bitcoin.

Even so, neither company is treating bitcoin as a core investment. Both have emphasized that digital assets are only a supplement to traditional portfolios. The focus remains on long-term planning rather than short-term gains.

Protección has stressed that its main pension strategy will not change. Fixed-income investments, equities, and other traditional assets will continue to make up the majority of pension portfolios. Bitcoin will remain a small, optional addition for investors who understand the risks.

Founded in 1991, AFP Protección is a major player in Colombia’s financial system. The company manages more than 220 trillion Colombian pesos, about $55 billion, for over 8.5 million clients across mandatory pensions, voluntary pensions, and severance accounts.

Across the country, Colombia’s mandatory pension system held 527.3 trillion pesos as of November 2025. Nearly half of that money is invested abroad, showing that diversification has long been part of pension strategy. In that context, bitcoin represents only a very small expansion.