Mystery Vendor – The launch of exchange-traded funds (ETFs) linked to cryptocurrencies, faces many obstacles. In the United States, if the SEC has given its approval for ETFs linked to futures contracts on Bitcoin (BTC)she however rejects for the moment all bitcoin spot ETF inquiries. In Australia, the investor meeting with three crypto ETFs was finally postponed.
ETF cryptos in Australia: false start, the next will be the good one?
The Australian branch of Chicago Board Options Exchange (CBOE), announced in a press release dated April 26, 2022, the postponement of the quotation from: Cosmos Asset Management’s Bitcoin Spot ETF, and two spot ETFs issued by 21Shares.
Cosmos Asset Management’s Bitcoin ETF had obtained the green light from the Australian Securities Exchange on April 19, 2022. It was to be launched on the market after a notice period of seven days. The Australian Financial Review is the country’s leading business daily. He had indicated that this exchange-traded fund could attract up to $1 billion in cash.
>> Want to trade Bitcoin and cryptocurrencies without leaving your shirt? AscendEX has a nice surprise in store for you (affiliate link) <
Crypto ETFs that are desired
21Shares ETFs also gained regulatory approval around the same time. They had to be listed on the same day as Cosmos Asset Management’s exchange-traded fund. However, the company will have to be patient in Australia. In fact, she had already been refused by the American SEC in early April 2022, as to its spot Bitcoin ETF which was to be listed on the Cboe BZX Exchange platform.
CBOE Australia justified this delay in the launch of these ETFs. The body said that “standard checks before the start of transactions are still in progress”. A spokesperson for 21Shares, meanwhile, provided the Cointelegraph media, vague explanations about this postponement. He stated that: ” infrastructure is being built from the ground up “.
The spokesperson also points out: that a downstream service provider needs more time to support the launch “. However, he did not provide any details as to the identity of this supplier.
The postponement of the launch of these three crypto ETFs does not change the fact that Australia is increasingly presenting itself as fertile ground for the development of cryptocurrencies. Lawmakers have been working since 2021 on the country’s regulatory framework. The goal? adapt to current realities of blockchain and cryptocurrencies.
Better late than never. Bitcoin and cryptocurrencies are here to stay and will change the landscape of the economy, everyone agrees. On your side, do not delay too much and go sign up on AscendEX. Enjoy 10% reduction on trading fees (affiliate link, see conditions on site)