Crypto-Focused Equities ETF Could Begin Trading in Australia in Coming Weeks
The ETF will offer exposure to crypto-focused companies, such as Coinbase and Riot Blockchain.
Oct 13, 2021 at 10:01 a.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/DKOQOE2TGNGEJGKBQQTMNZMUWA.jpg)
Credit: Shutterstock
Jamie Crawley is a CoinDesk news reporter based in London.
An exchange-traded fund (ETF) offering exposure to crypto-focused companies could soon begin trading in Australia.
- ETF manager BetaShares said Wednesday it expects its Crypto Innovators fund to start trading on the Australian Stock Exchange (ASX) “in the coming weeks,” subject to regulatory approval.
- Trading under the ticker code “CRYP”, the ETF will offer exposure to crypto-focused companies, aiming to track the Bitwise Crypto Industry Innovators Index, the firm said in an emailed statement.
- Current constituents include crypto exchange Coinbase, mining company Riot Blockchain and bitcoin holding business-intelligence software firm Microstrategy.
- By holding companies, rather than cryptocurrencies themselves, the ETF has a similar structure Volt Equity, which was recently approved by the U.S Securities and Exchange Commission to start trading on the New York Stock Exchange.
- BetaShares said 85% of the index is focused on companies that either derive at least 75% of their revenue from directly serving crypto markets or have at 75% of their net assets in direct liquid crypto-asset holdings.
- The firm first submitted its application to the ASX to list a crypto ETF in May, according to Australian Financial Review.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
:format(webp)/www.coindesk.com/resizer/Wsw21Z13uYNeMwlEy09fcHX_LHw=/arc-photo-coindesk/arc2-prod/public/Z2G3HHMTVJGWRAQIH4UHCT3FEY.jpg)
Jamie Crawley is a CoinDesk news reporter based in London.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Jamie Crawley is a CoinDesk news reporter based in London.
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/EVMRRWVN4NB6NJHN7PKKTUZUQQ.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/WPB2NS6BSFDVNAUP4GXNGCR4XI.jpg)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/5WFGVPMUQZHT5GR7P2GZCRSMDE.png)
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/HULF64WQDFCPLIY4YXZ5L2DZTQ.jpg)