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Just-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.
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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.

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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).

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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.

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Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

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Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
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