Australia is set to launch spot Bitcoin and Ethereum ETFs next week

Australia is set to receive the country's first spot Bitcoin (BTC-USD) and spot Ethereum (ETH-USD) exchange traded funds, as the two ETFs prepare to launch on CBOE Exchange on April 27th. ETF Securities and 21Shares have together set the stage to unveil the ETFs 21Shares Bitcoin ETF: EBTC and ETFS 21Shares Ethereum ETF: EETH. EBTC will plan to track the price of Bitcoin in Australian dollars. Furthermore, the fund will be fully backed by Bitcoin that is held in cold storage by Coinbase. Similarly, EETH will aim to track the price action of Ethereum, also in Australian dollars. EETH will to be fully backed by Ethereum held in cold storage by Coinbase. While Australia, pushes forward with spot ETFs that tracks the crypto assets, U.S. investors in search of a U.S.-based spot Bitcoin or Ethereum ETF will have to remain on the sidelines as SEC officials have yet to move the needle