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The Crypto Sea Serpent – L’Australia is increasingly presenting itself as a land of welcome for many crypto projects. Unlike the SEC, which continues to to refuse all applications for Spot Bitcoin ETF, ASIC justaccept the marketing of three of them in Australia. After some hesitation, then a final postponement, these exchange traded funds will finally make their appearance in the financial landscape. Explanations and perspectives.
The first Spot Bitcoin ETFs are available on the market
A few semantic reminders in the preamble. Each country has its own regulatory authority financial markets with a special little name. In France, it is theMFA (Autorité des Marchés Financiers) and in the United States of DRY (Securities and Exchange Commission). As for Australia, we are talking about theASICs (Australian Securities Investment Commission). So much for the institutions. We will also talk here aboutAND F (Exchange Traded Fund) which we call in French des ETFs (Exchange Traded Funds).
The Australian branch of Chicago Board Options Exchange (CBOE) launched last Thursday the first three Spot ETFs crypto in the country. The first two are offered by ETF Securities in partnership with 21 Shares. They are based on the Bitcoin and theEthereum and are called EBTC and EETH respectively. The third is offered by Cosmos Asset Management and relates to Bitcoin alone. To find it on the markets, look for CBTC.
As a reminder, exchange-traded funds are financial products offered by stock exchanges or exchanges. They reply faithfully the variations of an index. This can concern all types of assets (precious metals, energy, currency, CAC 40, etc.). They thus allow investors toexpose to an asset or an asset class without owning it. But above all, by investing in this type of product, the consumer is protected by the national laws that govern them.
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What this changes for Australian consumers
The Managing Director of Cboe Australia – Vic Jokovic – said on the occasion of the launch of these three ETFs:
” [Les ETF] are game-changing products that will allow more Australians to expose their portfolios to cryptocurrency in a regulated manner. »
The investors around the world are used to this type of product. They use them happily in different sectors of the economy. The Managing Director of Cosmos Asset Management – Dan Annan – said the fund would thus provide exposure to Bitcoin “in a familiar way”. For Graham Tuckwell, CEO of ETF Securities, it was time for these products to arrive because:
“The market capitalization and trading volumes of these two major cryptocurrencies are now larger than any company listed on Australian exchanges. »
For informed observers, the arrival of Bitcoin Spot ETF is a priori good news for various reasons. First of all, it will allow the general public to discover the cryptocurrencies in an environment secure and therefore to be front door in the sometimes complex ecosystem of digital assets. In addition, to offer a Spot ETF to the public, financial companies must hold theequivalent in stock “. This is why 21 Shares works with Coinbase and its secure wallets.
Yes, you have understood correctly, this means that these entities will have to to buy large amounts of Bitcoin! To then be able to to propose to their customers. What should, mathematically, do increase the latter’s price. Well, that’s in theory of course. Waiting, the LUNA fiasco overshadowed the announcement of the launch of these famous ETFs. And what was supposed to be big news got lost amid the recent market slump. But, be sure that we will talk about it soon…
Are you going to wait for the AMF to authorize a Bitcoin ETF to get started in crypto investing? If you are less patient and more savvy, start right away! Register now on Binancethe reference platform that has obtained the PSAN (affiliate link).
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