Following Australia’s recent approvals of crypto-based exchange-traded funds (ETFs), Canada’s 3iQ Digital Asset Management launched two crypto feeder ETFs on the Cboe Australia Exchange on Tuesday.

See related article: Canada’s 3iQ could be first to launch Australian crypto ETF

Fast facts

  • The two feeder funds, one in Bitcoin and another in Ether, track the asset’s price via 3iQ’s respective spot-traded Bitcoin and Ethereum funds trading on the Toronto Stock Exchange.
  • ETFs grant access to an underlying asset by tracking it as a share on a stock market; spot-traded funds are physically backed while feeder funds track the price of other physically-backed funds.
  • Two spot-traded Bitcoin and Ethereum ETFs were launched by Australian ETFS Management (AUS) Ltd. and Swiss 21Shares AG in early May.
  • A Bitcoin feeder fund by Cosmos Asset Management tracking the Canadian Purpose Bitcoin ETF launched on the same day, while another feeder fund based on Ethereum launched on the Cboe Australia Exchange on May 31.
  • Canada has been a global leader in crypto ETFs, with the Purpose Bitcoin ETF becoming the first spot-traded Bitcoin ETF in the world when it launched in February 2021. 

See related article: Can ETFs in Australia do for Bitcoin what they did for gold trading?