- ASX Clear, the clearing house at the center of Australian capital markets, has confirmed it has four market participants that will cover initial margin requirements of 42%.
- A notice will be sent to market participants on Wednesday, the newspaper said, citing Hamish Treleaven, ASX's chief risk officer.
- That will allow the product to start trading on April 27. The Cosmos fund invests in crypto through the Purpose Bitcoin ETF that listed on the Toronto Stock Exchange last November.
- There is speculation of $1 billion in inflows when the ETF goes live in Australia next week, the newspaper reported.
- Cosmos has two existing products, including the Global Digital Miners Access ETF, which trades on Cboe Australia with net assets of $2.1 million, and the unlisted Bitcoin Wholesale Access Fund.
- ASX Clear’s approval for approving the Cosmos Bitcoin ETF may pave the way for the National Stock Exchange of Australia to begin listing bitcoin ETFs.
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.