Securities and derivatives exchange Cboe Australia has released a statement announcing its successful launch of the ETFs 21Shares Bitcoin ETF and the ETFs 21Shares Ethereum ETF. These are the first exchange-traded funds to give Australian investors direct, regulated access to the world’s biggest digital tokens by market capitalisation, Bitcoin and Ethereum. According to media reports, the Cosmos Purpose Bitcoin Access ETF also debuted on Cboe on Thursday.
According to a 2021 survey, one in every five Australians already owns cryptocurrency, and the new ETF products may entice additional investors.
“We’re pleased to partner with ETF Securities to bring the first crypto ETFs to market in Australia,” said Cboe Australia CEO Vic Jokovic. He went on to say that they were “breakthrough products that will pave the way for more Australians to expose their portfolios to cryptocurrency in a regulated manner.”
Nonetheless, the historic debut occurred amid the demise of the stablecoin UST and its related Terra-based asset, Luna. According to the AFR, the three new ETFs each had initial trading volumes of less than $1 million and fell short of bullish market expectations amid a global sell-off in the underlying prices of bitcoin and ether.
Tony Sycamore, the senior market analyst for City Index, said: “There are strong signs of capitulation in crypto this week, which often proceeds rebounds. Presuming the recovery gains traction, it will help garner support for the newly listed ETF products along with the continuation of more widespread adoption.”
