According to the Australian Financial Review, Cosmos Asset Management’s Bitcoin ETF, the first bitcoin exchange-traded fund in Australia, will be launched on the Cboe equities trading platform next week.
ASX Clear, the clearing house for Australia’s equity markets, has verified that it has secured four market players covering initial margin requirements of 42%.
The newspaper quoted Hamish Treleaven, the ASX’s chief risk officer, saying that a notice would be sent to market participants on Wednesday.
This enables the product to begin trading on April 27. The Cosmos fund invests in cryptocurrency via the Purpose Bitcoin ETF, which debuted on the Toronto Stock Exchange last November.
It was also reported that there is speculation of $1 billion in inflows at the launch of the ETF next week.
Cosmos currently offers two products: the Global Digital Miners Access ETF, listed on Cboe Australia and has $2.1 million in net assets, and the unlisted Bitcoin Wholesale Access Fund.
The approval of the Cosmos Bitcoin ETF by ASX Clear may pave the way for the Australian National Stock Exchange to start listing bitcoin ETFs.