Bitcoin ETFs to Launch in Australia to Test Crypto Demand

As regulators finalise merchandise authorization that directly exposes digital assets, the Bitcoin exchange-traded fund is coming to Australia. Cosmos Asset Management has announced that the Cosmos Goal Bitcoin Entry ETF will be available in the coming days. It can invest in the Goal Bitcoin ETF, a Toronto-listed fund with approximately C$1.6 billion ($1.3 billion). Dan Annan, chief government officer at Cosmos, mentioned anticipating launching the product the following week” pending a remaining regulatory inexperienced mild. Meanwhile, according to a release, 21 Shares AG, in collaboration with ETF Securities, anticipates Bitcoin and Ether funds to remain open until April 27. Coinbase World Inc. may keep the tokens underlying the product in so-called “chilly storage.” According to Hany Rashwan, CEO and co-founder of 21Shares, this marks the company’s first geographic expansion outside of Europe. The excitement behind Bitcoin-linked ETFs peaked last year when the United States approved a futures-based fund, driving the token to an all-time high. Some of that enthusiasm has dissipated, along with Bitcoin’s value, as the threat of significantly tighter Federal Reserve financial oversight dims the appeal of riskier investments. At the same time, anecdotal evidence suggests that cryptocurrency usage is increasing in Australia. Furthermore, Australia may serve as the Asia-gateway Pacific to crypto ETFs. The post Bitcoin ETFs to Lau...