Australians will soon have more spot cryptocurrency exchange-traded fund (ETF) options after this week the green light to an earlier halt and new funds entering the ETF market.
The latest update came late on May 9th as Cboe Australia issued a round of market announcements that three previously delayed funds are expected to start trading on Thursday 12th May. These include a Bitcoin ETF from Cosmos Asset Management, as well as Bitcoin (BTC) and Ethereum (ETH) spot ETFs from 21Shares.
Cboe Australia and Cosmos did not immediately respond to a request for comment, but a spokesperson for 21Shares confirmed to Cointelegraph:
“We are listing this Thursday May 12th. The downstream problems are solved.”
On April 26, a day before the launch of three of the first crypto ETFs, exchange Cboe Australia delayed the listing of all three funds because they were “standard reviews.”
21Shares told Cointelegraph at the time that it needed more time for a “downstream service provider” to support the launch of the products, which was believed to be a prime broker or other large financial institution.
The listing date comes just in time as a new competitor has entered the ETF race. 3iQ, the Canadian company with spot Bitcoin and Ethereum ETFs listed on the Toronto Stock Exchange (TSX), filed two offering notices with the Australian Securities Exchange (ASX) on April 28.
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The announcements revealed plans for the company to list units of its Bitcoin and Ethereum ETFs on the Cboe Australia exchange. It will provide access to the crypto assets by buying units of the existing funds on the TSX, similar to Cosmos’ ETF buying the Canadian Purpose Bitcoin ETF.
It’s unclear when 3iQ’s funds will be listed, but with the announcement of the listing of the Cosmos and 21Shares funds this week, it seems unlikely that 3iQ will win the competition to be the first Australian crypto ETF whose price likely to exceed $1 billion on inflows.
https://cointelegraph.com/news/three-new-crypto-etfs-to-begin-trading-in-australia-this-week Three new crypto ETFs are trading in Australia this week