Australia’s first three ETFs delayed

What

Three cryptocurrency exchange-traded funds due to launch in Australia have been delayed due to further checks still being undertaken

Why

Cboe Australia, the exchange listing the ETFs stated that standard checks were still being completed

What next

A further update on the status of the ETFs has been promised in the next few days

The Story

The launch of Australia’s first three Bitcoin and Ether exchange-traded funds (ETF) has been delayed due to further checks that need to be completed.

In a statement released by Cboe Australia, the exchange listing the ETFs, it was announced that standard checks prior to the commencement of trading were still being completed, with a further update to be provided in the next few days.

The same notice was also announced for the Bitcoin and Ether spot ETFs issued by 21Shares scheduled to launch at the same time. 

The reason for the delays is still unclear, with the Australian Financial Review citing a ‘service provider downstream’ as a possible reason for the holdup.

To learn more about ETFs, visit our learning resource here.