Australia Crypto ETF Market Heats Up With Two More Spot Funds Set to Launch

The market for crypto exchange-traded funds in Australia is becoming more crowded, with two spot exchange-traded funds from 21Shares set to launch next week, joining an offering from Cosmos Asset Management.

21Shares, which has $2.5 billion in assets under management with 30 global exchange-traded products, has partnered with ETF Securities to launch a bitcoin (BTC) ETF and an ether (ETH) ETF, the company said in a statement Tuesday.
The products will be the first in Australia to invest directly in the underlying assets. Cosmos Asset Management's ETF invests in the Toronto-based Purpose Bitcoin ETF as opposed to spot bitcoin.
Both funds will be listed on the Cboe Exchange starting on April 27 with prices being tracked against the Australian dollar.
The funds will hold bitcoin and ether in cold storage, with Coinbase (COIN) as the custodian.
The two products give investors a "way of trading crypto in a tightly-regulated environment without having to maintain their wallet and manage risk," said Graham Tuckwell, executive chairman of ETF Securities Australia.
The introduction of crypto ETFs in Australia prompted criticism of U.S. regulators from VanEck Director Gabor Gurbacs, who labeled the U.S. Securities and Exchange Commission's conservative stance on listing a bitcoin ETF as "a big loss for investors."

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 an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Oliver Knight

Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.

Follow @OKnightCrypto on Twitter

Learn more about Consensus 2024, 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.

10 Years of Decentralizing the Future