5 Ways to Increase Acceptability of Cryptocurrency: From Skepticism to Mainstream Adoption
Leave a comment
Your email address will not be published. Required fields are marked *
2022-05-10 | Selina Mathew
Australians will soon have five bitcoin exchange-traded funds to choose from, with Cosmos and 21Shares funds launching this week and 3iQs launching later.
After a prior hold-up was cleared this week and new funds entered the ETF market, Australians will soon have more alternatives for spot cryptocurrency exchange-traded funds (ETFs).
The most recent update came late on May 9 when Cboe Australia released a batch of market alerts stating that three funds that had been postponed will begin trading on Thursday, May 12. Cosmos Asset Management has a Bitcoin ETF, while 21Shares has Bitcoin (BTC) and Ethereum (ETH) spot ETFs.
The Cboe Australia exchange postponed the listing of all three funds on April 26, a day before three of the first crypto ETFs were supposed to start, citing "normal inspections."
A "service provider downstream," which is thought to be a prime broker or other big financial institution, needed extra time to assist the launch of the products, according to 21Shares.
The listing date coincides with the entry of a new participant into the ETF race. On April 28, 3iQ, a Canadian company offering Bitcoin and Ethereum spot ETFs on the Toronto Stock Exchange (TSX), filed two offer notifications with the Australian Securities Exchange (ASX).
The notifications disclosed that the company intends to list Bitcoin and Ethereum ETF units on the Cboe Australia market. It will provide investors access to crypto assets by buying units in existing TSX funds, comparable to Cosmos' ETF, which buys the Canadian Purpose Bitcoin ETF.
It's unknown when 3iQ's funds will be launched, but with the launching of Cosmos and 21Shares funds this week, it's doubtful that 3iQ will win the race to be the first Australian crypto ETF, with a prize pool of over $1 billion in inflows.
Your email address will not be published. Required fields are marked *
5 Ways to Increase Acceptability of Cryptocurrency: From Skepticism to Mainstream Adoption
The Bitcoin Savings and Trust Scam: The First Scam in the History of Bitcoin
The Birth of Bitcoin Exchange: A Look Back at the First Bitcoin Exchange
How Does Bitcoin Network Work? What Are BTC Nodes?