Claim BonusJust-In: Australia’s First Bitcoin ETF To List Next Week
Australia’s first Bitcoin ETF, launched by Cosmos Asset Management, will be listed next week on the CBOE equities trading exchange. The move comes as four market participants agreed to provide margins for the product in line with requirements by clearinghouse ASX Clear.
The ETF will begin trading on April 27. It is also expected to bring about $1 billion worth of inflows into the fund.
Cosmos Bitcoin ETF Will Be the First in Australia
The ETF launch comes as three institutional-grade clearing participants and one retail clearing participant agreed to provide the 42% margin demanded by ASX Clear.
Hamish Treleaven, the chief risk officer at ASX, told Australian Financial Review:
“We are now at our minimum number of clearing participants and that means we are good to go.”
Therefore, ASX Clear will issue a seven-day regulatory approval notice to market participants on Wednesday, April 20. The notice will give brokers, clearers, clearing participants, market makers, and investors a seven-day period to plan accordingly.
The Cosmos bitcoin ETF is a fund of the fund as it invests in the Canada-listed Purpose Bitcoin ETF. The crypto fund manager Cosmos Capital had recently partnered with Purpose Investments to launch bitcoin ETFs in Australia.
In addition, it is believed that Cosmos had got screened its bitcoin ETF disclosure statement by the Australian Securities & Investments Commission (ASIC).
Australia’s Growing Crypto Adoption
Crypto adoption in Australia is rising rapidly as institutional and retail investors have started investing in cryptocurrencies. Several surveys reveal most Australians own cryptocurrencies and also do transactions across retail stores. Recently, convenience store and gas station giant On The Run (OTR) announced accepting crypto payments.
Moreover, the crypto landscape in Australia has improved as the government had introduced friendly rules and regulations. It has allowed crypto exchanges such as FTX to expand to Australia. Now, the listing of the first Bitcoin ETF will further improve crypto adoption in the country.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Top 5 Reasons Crypto Prices Are Up Today: BTC, ETH, XRP, ADA
- XRP Price Enters “Extreme Fear” Zone, Signals a Classic Setup for a Rally: Santiment
- Crypto Hack: Layer-1 Protocol Saga Halts EVM Chain After $7M Exploit
- Senate Ag Releases Crypto Market Bill Draft Amid Democrats Backlash, Here’s What to Know
- Crypto Regulation in Limbo as US Senate Delays CLARITY Act Again
- Ethereum Price Prediction as Trump Signals Crypto Market Bill Signing soon
- Bitcoin Price Prediction Ahead of Key US Inflation and GDP Data
- XRP Price Forecast as Binance Officially Lists Ripples’s $RLUSD Stablecoin
- Dogecoin, Shiba Inu, and PEPE Predictions as Bitcoin Price Drops Below $90k
- Is Pi Network Price Going Through a Tough January?
- Chainlink Price Prediction After 24/5 Stock Data Launch: What’s Next For LINK?
