Forex in this article
• Australian investors are to receive two Bitcoin ETFs at the end of April
• Cosmos AM works with Purpose on “Cosmos Asset Management Bitcoin ETF”
• Inflow could total $1 billion in the first 24 hours alone
Australia will get its first Bitcoin ETF at the end of April
In mid-February, Cosmos Asset Management announced in a press release that it would be launching the first Australian bitcoin ETF in partnership with Canadian company Purpose Investments. As BTC-Echo reports, citing the Australia Financial Review, the “Cosmos Asset Management Bitcoin ETF” is now expected to debut on April 27th. The information portal quotes Hamish Treleaven, chief risk officer at the Australian clearing house ASX: “We have now reached the minimum number of clearing participants and that means that we are ready to go.”
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The Cosmos Asset Management Bitcoin ETF is not tied to “physical” Bitcoin
More specifically, ASX Clear has confirmed that a total of four market participants are ready, who will make a total of 42 percent initial margin deposits, according to CoinDesk, also citing the Australia Financial Review.
BTC-Echo explains that the Cosmos Asset Management Bitcoin ETF will not be tied to “physical” bitcoins. Instead, the Bitcoin price is replicated using the Purpose Investment Bitcoin ETF, which was listed on the Toronto stock exchange in November last year. The investment fund does not represent a direct investment in Bitcoin.
Experts expect an inflow of one billion US dollars
In the mid-February press release, Cosmos CEO Dan Annan is quoted as saying: “[Mit der Kombination unserer] With extensive ETF and crypto experience, we are well positioned to offer Australian investors greater choice and diversity.” In addition, “investor demand for new investment opportunities in cryptocurrencies and emerging technologies is increasing.” According to information from BTC-Echo, market observers expect for the ETF listed on the CBOE Australia with an inflow of around one billion US dollars – maybe even within the first 24 hours.
21Shares will also launch Bitcoin ETFs at the end of April
Shortly after the information about the launch of the Cosmos Asset Management Bitcoin ETF on April 27, BTC-Echo reported that the Australian company 21Shares also announced that it wanted to launch a Bitcoin and an Ethereum ETF. The two ETFs are apparently set up in cooperation with ETF Securities and will also be listed on the Cboe Exchange from April 27th.
Olga Rogler / Editor finanzen.net
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