Only two weeks after the Australia Securities Exchange approved a similar product, the Cosmos Global Digital Miners Access exchange-traded fund (ETF) launched on rival exchange Chi-X Australia today, granting exposure to globally listed digital asset mining and infrastructure companies.
Fast facts
- Trading under the name “DIGA,” the fund tracks the Global Digital Miners Index, designed by Cosmos Asset Management to follow companies that generate at least 80% of their revenue from digital asset mining and infrastructure, such as Marathon Digital, Riot Blockchain, Hive Blockchain Technologies and Hut 8 Mining Corp.
- Speaking with Forkast.News, Cosmos CEO Dan Annan said the project is the result of a collaboration with parent company Mawson Infrastructure Group, which brought together skill sets in digital asset mining, fund management and ETFs to offer the product. “Our initial look into the asset was to launch a Bitcoin ETF,” Annan said. “But as we did our analysis and looked at the picks and shovels of companies involved, we saw an opportunity to bring investors DIGA as a way to give investors exposure while we work through the exchange and regulation challenges.”
- Annan added that Chi-X was an attractive option for Cosmos as it has been innovative in the Australian market, and open to new ideas as to how to bring active ETFs to market. With all the interest in the products after the approval of two Bitcoin futures ETFs the U.S. recently, Annan sees opportunity for investors. “I think the innovation for ETFs has been really excellent for investors of all types,” he said. “And probably one of the greatest investment tools for the investment industry, right? And you’re seeing traditional asset active asset managers use it as a tool to deliver products to their clients.”
- Using the ticker “CRYP,” the ASX recently launched the “BetaShares Crypto Innovators ETF,” which grants exposure to global companies working in the digital asset space, such as crypto exchange Coinbase, mining company Riot Blockchain and MicroStrategy — which has the largest Bitcoin holdings of any publicly traded company in the world.
- As Forkast.News reported recently, Cosmos parent company Mawson Infrastructure Group’s latest Bitcoin mining facility is set to come online in Australia’s Byron Bay this week. Built in partnership with Quinbrook Infrastructure Partners, it will be Australia’s largest mining facility and will be powered entirely by renewable energy. The project follows recommendations made by a Senate committee recently to offer a 10% tax break to any digital asset mining company that runs on 100% renewable energy.