Australia’s first bitcoin ETF will be listed on the Cboe equities trading venue
Next week, Australians will get to witness the first test of mass retail demand for crypto when the first bitcoin ETF is listed on Cboe equities trading venue.
The Australian news outlet AFR reports that the first Bitcoin ETF will be granted after a stringent series of market players agreed to margin restrictions. ASX Clear, the clearing house controlling access for equities capital markets, is reportedly set affirmative on granting this new product, which would make it possible once again to enter into an already oversaturated global economy with strong demand from investors around the world
This new ETF on the ASX will start trading next Wednesday 27, with a seven-day notice period giving brokers and others time to prepare. The only product in front of Cboe right now is Cosmos Asset Management’s cryptocurrency fund.
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What is a Bitcoin ETF?
Bitcoin exchange-traded funds (ETFs) have been in the crypto news a lot lately. But what is a Bitcoin ETF? Simply put, it’s an exchange-traded fund that tracks the price of bitcoin. ETFs are usually traded on stock exchanges, and they offer investors a way to get exposure to an asset without actually owning it. They would allow investors to get exposure to bitcoin without having to buy and store the underlying asset. The first crypto ETF was filed with the U.S. Securities and Exchange Commission (SEC) in 2016, but it was approved on Oct 19, 2021. Several firms are seeking approval from the US Securities and Exchange Commission (SEC) to launch such a product.
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The article’s writer Noah Jones did not hold any positions in assets or companies mentioned in this article on the date of publication. His opinions are articulated herein, and the reader accepts that some opinions could change as a result of newer information being revealed.
He has over 7 years of experience in crypto trading.
noahjones@crypto.auz.net
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