Australia’s first-ever Bitcoin ETF to launch next week
Australia’s first bitcoin exchange-traded fund (ETF) is expected to list on the Cboe platform as soon as next week.
While VanEck already has a Bitcoin Strategy Fund listed on Cboe, Cosmos Asset Management’s Bitcoin ETF would importantly be the first physically backed Bitcoin ETF in Australia.
However, this new development has an interesting caveat.
Unlike other global Bitcoin ETFs, this Australian first wouldn’t invest in Bitcoin directly but rather in shares of Purpose Investment’s Bitcoin ETF.
Of note, Purpose Investment’s Bitcoin ETF claimed to be the world’s first Bitcoin ETF. In February 2022 the company celebrated its one-year anniversary since its official launch in Toronto; it currently has US$1.6 billion of assets under management.
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Source: Australia’s first-ever Bitcoin ETF to launch next week | Financial Standard