Betashares launches 2 crypto ETFs
Betashares has announced the launch of two cryptocurrency ETFs– the Betashares Bitcoin ETF (QBTC) and Betashares Ethereum ETF (QETH).
According to the firm, QETH marks the first ASX-traded ETF to offer exposure to Ethereum, the “backbone of decentralised business applications and blockchain innovation”.
QBTC, which offers exposure to bitcoin, is the third such ETF to launch on the ASX, following launches by VanEck and Digital X last year.
Betashares’ foray into the area coincides with growing demand among both retail and institutional investors for cryptocurrency-linked ETFs, which kicked off following the launch of bitcoin ETFs in the United States more than a year ago now.
Betashares believes that the adoption of cryptocurrency-linked ETFs will accelerate locally and said its ETF offerings mark a “global turning point” for the cryptocurrency investment landscape.
“Cryptocurrency is moving into a new phase of adoption as the asset class matures,” Betashares chief executive Alex Vynokur said.
“With Bitcoin ETFs seeing strong demand overseas and Ethereum’s growing role as the infrastructure of decentralised finance, we believe the time is right for this launch. Our funds offer a way that is simple, regulated and can be seamlessly integrated into investment portfolios.”
Betashares confirmed that both ETFs are launched in partnership with US cryptocurrency index fund manager Bitwise.
“Around the world, investors are increasingly using digital assets as part of a diversified portfolio, and we’re excited to extend the same opportunity in the familiar form of an ETF,” Vynokur said.
“By partnering with Bitwise, a global leader in crypto asset management, we are delivering best-in-class solutions for Australian investors who want exposure to bitcoin and Ethereum without the complexity of cryptocurrency purchase and storage.”
In expanding its digital asset suite, the funds build on the Betashares Crypto Innovators ETF (CRYP) launched in 2021.
“Our new bitcoin and Ethereum ETFs are the next step in bringing robust crypto investment solutions to local investors amid the gradual evolution of investor portfolios,” the CEO said.
While Betashares’ Ethereum-exposed ETF is the first on the ASX, Global X and Monochrome offer a similar product available on Cboe.
AUTHOR
Jessica Penny
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
