Australia’s first three crypto ETFs launched today and made $1.3 million


Three crypto exchange-traded funds (ETFs) were listed today, and have managed to generate over $1.3 million in total


These three are the first crypto ETFs to be listed in Australia

What next 

They are available for trading and are expected to generate $1 billion in capital inflow

The story 

Three crypto exchange-traded funds (ETFs) were launched on the local exchange Cboe Australia today. Despite the current market trends, the three ETFs have managed to generate over $1.3 million in total. And their estimated future capital inflow is around $1 billion according to CoinTelegraph.

These three are the first crypto ETFs to be listed in Australia. Two of the three are focused on Bitcoin (BTC), and the third on Ether (ETH).

The trio of newly listed ETFs include a BTC ETF, known as Cosmos Purpose Bitcoin Access ETF (CBTC) from Sydney-based investment firm Cosmos Asset Management, and Australian ETFS Management Ltd. and Switzerland-based 21Shares AG have released a BTC ETF known as EBTC and an ETH ETF known as EETH. EBTC and EETH both track their assets’ respective value to the Australian dollar.

According to Cboe data, EBTC and EETH have seen 231,180 and 204,245 shares traded respectively at the time of writing. And CBTC has had a more gradual start with 51,572 shares traded. This is likely to change as Cosmos Asset Management has waived fees on CBTC for the next two months in order to boost investor interest. 

Kurt Grumelart, a trader at the Australian wealth management firm Zerocap, remarked that “the event marks a large step forward for Australia and mainstream acceptance of the crypto industry as a whole.”

And ETF Securities’ Kanish Chugh explained that while the new ETFs have been listed during the market crash, “what we are seeing, though, is with Bitcoin coming off more than 50% from its 2021 high, investors are considering the current volatility as providing them with an opportunity to invest.”

To find out more about crypto ETFs, take a look at our Learning Resource.

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