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
Bennelong Funds Management has signed a memorandum of understanding with US private credit manager Monroe Capital to distribute its products in Australia.
Global equity manager Talaria Capital has appointed a Sydney-based sales director as it grows its distribution presence across Australia.
Global private markets firm Partners Group has launched an evergreen fund to provide Australian advisers with access to its cross-sector royalties strategy.
Franklin Templeton has reduced fees for two of its Brandywine fixed income funds and enacted a name change for its Global Income Optimiser fund.
