Australia’s first three cryptocurrency exchange-traded funds (ETF) launched on the Cboe exchange on Thursday, bringing Bitcoin and Ethereum products to the stock market.
See related article: Launch of three crypto ETFs in Australia delayed
Fast facts
- One of the funds, the Cosmos Purpose Bitcoin Access ETF (CBTC) from Cosmos Asset Management, tracks the Purpose Bitcoin ETF (BTCC-B.TO) on the Toronto stock exchange.
- The other two funds were launched by Australian ETFS Management (AUS) Ltd. and Swiss 21Shares AG spot-trade Bitcoin (EBTC) and Ether (EETH) by tracking the underlying asset directly.
- The three cryptocurrency products were scheduled for launch on April 27, but brokerage concerns caused last-minute delays.
- Cosmos said it will not charge investors fees on their funds for two months, as a response to the postponed launch.
- The ETFs launch come at a turbulent time for the cryptocurrency market, as Bitcoin and Ethereum were at their lowest point in 2022 on Thursday morning Asia time.
- CBTC last traded at AU$7.94 (US$5.49), EBTC at AU$4.25 (US$2.94) and EETH at AU$3.04 (US$2.10) at press time.
See related article: A fast one from down under: Australia approves BTC, ETH ETFs