On April 27, the first Bitcoin and Ethereum ETF will be launched in Australia. In the USA, people are looking enviously at Down Under.
Shares will launch a Bitcoin and Ethereum ETF in Australia. The company made the announcement on Tuesday. It is partnering with ETF Securities to do so.
Both funds will be listed on the Cboe Exchange starting April 27, as will the Cosmos Asset Management Bitcoin ETF.
Coinbase is acting as custodian of the funds. They will be held in the most secure “cold storage” possible.
21Shares manages $2.5 billion in assets with 30 exchange-traded products.
The two ETFs offer investors a “way to trade cryptocurrencies in a highly regulated environment without having to maintain their wallet and manage risk,” said Graham Tuckwell, executive chairman of ETF Securities Australia.
The introduction of crypto ETFs in Australia led to criticism of U.S. regulators by VanEck Director Gabor Gurbacs. He called the U.S. Securities and Exchange Commission’s conservative approach to allowing a Bitcoin ETF a “big loss for investors.”
Picture by Pixabay
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