Australia’s first Bitcoin and Ethereum spot ETFs go live

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Australia’s first three cryp­tocur­ren­cy exchange-trad­ed funds (ETF) launched on the Cboe exchange on Thurs­day, bring­ing Bit­coin and Ethereum prod­ucts to the stock market.

See relat­ed arti­cle: Launch of three cryp­to ETFs in Aus­tralia delayed

Fast facts

  • One of the funds, the Cos­mos Pur­pose Bit­coin Access ETF (CBTC) from Cos­mos Asset Man­age­ment, tracks the Pur­pose Bit­coin ETF (BTCC‑B.TO) on the Toron­to stock exchange.
  • The oth­er two funds were launched by Aus­tralian ETFS Man­age­ment (AUS) Ltd. and Swiss 21Shares AG spot-trade Bit­coin (EBTC) and Ether (EETH) by track­ing the under­ly­ing asset directly.
  • The three cryp­tocur­ren­cy prod­ucts were sched­uled for launch on April 27, but bro­ker­age con­cerns caused last-minute delays.
  • Cos­mos said it will not charge investors fees on their funds for two months, as a response to the post­poned launch.
  • The ETFs launch come at a tur­bu­lent time for the cryp­tocur­ren­cy mar­ket, as Bit­coin and Ethereum were at their low­est point in 2022 on Thurs­day morn­ing Asia time.
  • CBTC last trad­ed at AU$7.94 (US$5.49), EBTC at AU$4.25 (US$2.94) and EETH at AU$3.04 (US$2.10) at press time.

See relat­ed arti­cle: A fast one from down under: Aus­tralia approves BTC, ETH ETFs

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