First Bitcoin ETF to launch in Australia next week

In exciting news for crypto markets, the AFR has reported that Australia’s first Bitcoin ETF is set to launch on the Cboe equities trading venue next week. 

The news marks a pivotal development for the crypto scene in Australia with Bitcoin ETFs viewed as a means of attracting mainstream interest to cryptocurrency investments. The launch of the ETF will be a hard fought win for Cosmos Asset Management that has successfully demonstrated to regulators that there are sufficient market participants involved to meet the steep margin requirements necessary for launch. This move also follows a listing for Cosmos last year of its Global Digital Miners Access ETF that has underlying investments in Bitcoin mining and trading platforms.

It is understood that the product will be a fund of funds as it will invest in a Bitcoin ETF listed in Canada. However, more will be learned when a product disclosure statement is released closer to launch.

The global Bitcoin ETF landscape remains relatively bare. With the SEC in the US still relatively strict when it comes to crypto ETF listings.

Time will tell whether the Cosmos listing will be the first of many, with some suggesting that this first mover advantage for Cosmos will serve it in good stead for launching other Web3 backed ETF products into the future.