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Exchange-Traded Funds have become popular around the market, seeking the fame and acceptance of crypto assets
First crypto exchange-traded funds in the Australian region are ready to go live on 12th May, Thursday on the Cboe exchange of the country. The ETF has had a lot of delays that kept the financial products away from the market for more than two weeks.
About three funds were initially announced for listing in the last days of April. Still, they witnessed the brokerage delays in the last minutes that suspended the launch of financial products indefinitely. Exchange-Traded Funds of ETFs are meant to grant exposure to the investors for an underlying asset by tracking the price of the asset as a particular stock market share.
The two worth mentioning ETFs are Australian ETFs Management (AUS) Ltd. and Swiss 21Shares AG, which are launching two ETFs for spot trading that are ETFs 21Shares Bitcoin ETF (EBTC) and ETFS 21Shares Ethereum ETF (EETH). All the assets for these two products will be applicable to hold in cold storage, and they will also allow investors to trade in these ETFs in exchange for crypto.
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Cosmos Purpose Bitcoin Access ETF (CBTC) was the third fund that came by Cosmos Asset Management CBTC. This ETF will invest in the top cryptocurrency, bitcoin, via the Canadian Purpose Bitcoin ETF. Price of bitcoin has fallen about 20% in its value since the launch of ETFs initially, which is currently trading at around $31,862.
ETFs act as a window for the exposure to the assets that provide access and safeguard the investors from the potential volatility and price fluctuations while giving long-term investment opportunities. They are quite popular all around the world and getting the adoption to the same extent. However, when it comes to ETFs, bitcoin future ETFs get the regulatory permission easily, whereas spot ETFs face challenges due to several regulations.
In the United States, bitcoin spot ETFs are still seeking their ways to get permission from the SEC, although it has allowed several bitcoin future ETFs but restructuring the spot ETFs. Prominent investment and asset management firm, Grayscale also filed for spot ETF, which is holding up for the final green signal from the regulatory authority; however, CEO Michael Sonnenshien made it clear that SEC would have to allow this or otherwise they would apply for the legal fight against the decision.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
