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Australia Makes Massive Crypto ETF Moves



Australia Makes Massive Crypto ETF Moves
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Australia has introduced its debut crypto exchange-traded funds (ETFs) after years of regulatory struggles. Australia’s ETF Securities and Cosmos Asset Management have launched Bitcoin and Ethereum ETFs on Cboe Australia. EBTC, EETH, and CBTC are already trading.

Australia’s First Crypto ETFs Now Live

Recently, the Australian market welcomed the debut Bitcoin and Ethereum exchange-traded funds on Cboe Australia. Precisely, the Securities and derivatives exchange Cboe Australia launched the ETFS 21Shares Bitcoin ETF (EBTC) and the ETFS 21Shares Ethereum ETF (EETH) .

Per the announcement, Cboe Australia also introduced the Cosmos Asset Management’s purpose bitcoin access ETF represented by CBTC. In total, three exchange-traded funds is now tradable on the Australian digital market – EBTC, EETH and CBTC.

Although these developments had a dulled reception on launch day due to the tumultuous crypto market conditions, Australia’s ETF Securities team was excited it happened after several years of regulatory negotiations.

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Interestingly, EBTC, EETH and CBTC commenced trading on Cboe Australia on 12 May 2022. Notably, they are only available through Cboe market participants and supporting Australian stockbrokers.

ETFs Impact on Australia

A survey conducted in 2021 revealed that one in five Australians owned cryptocurrency. This shows an impressive crypto adoption in the nation. However, the introduction of exchange-traded funds will eventually cause a spike in the nation’s rate of cryptocurrency adoption.

In the same vein, the introduction of ETFs will provide local investors in Australia with easy access to the emerging financial technology. With these ETFs, Australian investors are being presented with a direct and regulated exposure to Bitcoin and Ethereum.

It is also believed that these exchange-traded funds could lure new investors to the digital market via their offering of a more familiar investing experience. Consequently, the risk and uncertainties associated with cryptocurrency investing could be mollified.

In the words of Graham Tuckwel, Australia’s ETF Securities Chairman,

“The market capitalisation and trading volumes for these two leading cryptocurrencies are now larger than any company listed on the Australian stock exchanges, yet investors have not been able to gain access to them in a regulated manner.

By offering this access through an ETF, investors can now gain portfolio exposure to these cryptocurrencies in an institutional-type way.”

Likewise, Cboe Australia Chief Executive Officer, Vic Jokovic said;

“EBTC and EETH are breakthrough products that will pave the way for more Australians to expose their portfolios to cryptocurrency in a regulated Manner.”

Crypto ETFs on the Rise

Exchange-Traded Funds (ETFs) are securities that can be bought or sold on a stock exchange. More so, ETFs track multiple categories of digital assets including cryptocurrencies. While a bitcoin ETF tracks the performance of bitcoin on the futures derivatives market, Ethereum ETF does same to the coin’s futures price.

Due to the numerous advantages of crypto ETFs to a nation’s stock exchange, investors, and organizations, several countries and investment firms have launched their respective Bitcoin and/or Ethereum exchange-traded funds.

Reportedly, Bitcoin ETFs started in Canada when Purpose Investments, a Canadian company launched the world’s first Bitcoin ETF in 2021 . Since then, other countries and investment firms have followed suit.

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Onyeka is a multiple google ranked content writer. Loves to cover stories on Blockchain and Cryptocurrency and write in a way that is captivating and understandable.

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