Australia’s First Spot Bitcoin ETF To Launch This Week

  • Two bitcoin ETFs in Australia are set to launch this Thursday, May 12.
  • The 21 Shares Bitcoin ETF will offer direct access to bitcoin backed by BTC in cold storage.
  • The Cosmos Purpose Bitcoin Access ETF will allow investors to invest in shares of Purpose Investment’s spot-bitcoin ETF located in North America.

Two bitcoin exchange-traded-funds (ETFs) are set to go live on Thursday in Australia after a delay stalled the previous launch date of April 27, according to announcements made by the Cboe Australia exchange.

press release primed for the April 27 release, 21 Shares said:

“Australian investors clearly want and deserve an affordable, easy, and professional way to access the growing crypto asset class and we’re delighted to continue building accessible bridges into the crypto world.”

approval in Australia after it met a 42% margin requirement from ASX Clear, a large Australian clearing house. Cosmos planned to not offer spot-bitcoin, but rather offer investors the ability to purchase shares of Purpose Investment’s bitcoin ETF listed in Toronto, Canada, which shattered records on its original release with over $80 million traded within its first hour, and over $200 million traded in its first day which is ten times the average ETF volume.

announcement stating the delay was for “standard checks.” However, the Australian Financial Review (AFR) reported that the blame fell on a “service provider downstream,” who required more time to support the products.

Reportedly, the entity halting the release of the pending ETFs was a “prime” or “executing” broker whose approval was needed for the market maker to ensure operations for the market.