Crypto ETF breaks ASX records

BetaShares/crypto/ETF/ASX/

5 November 2021
| By Laura Dew |
image
image
expand image

BetaShares Crypto Innovators exchange traded fund (ETF) traded almost $40 million in its first day of trading in the Australian Securities Exchange (ASX), setting a record.

The ETF set a new first day record for trading value, beating the previous record of $8 million set in March, with trades of $39.7 million.

The fund provided exposure to a portfolio of global companies at the forefront of the crypto economy including pure-play crypto companies and diversified companies with crypto-focused business lines.

Alex Vynokur, BetaShares chief executive, said: “Investor demand for exposure to the digital assets theme is considerable as evidenced by the record investor interest in the BetaShares Crypto Innovators ETF.

“We are excited to lead efforts to provide Australian investors with a regulated, cost effective, transparent and convenient access to the digital assets space.

“However, we would also like to stress the importance of diversification and as such, investments in digital assets should be considered as part of a broadly diversified portfolio.”

In light of the record demand and following a recent report from the Australian Securities and Investments Commission (ASIC), the firm was also planning to two dedicated spot-based ETF investing in Bitcoin and Ethereum.

These would offer investors access to cryptocurrency in a “familiar, transparent and investor-friendly way”.

“We are looking forward to building out a range of ETFs providing Australian investors a broad range of exposures to the digital assets ecosystem, including the expected launch of the 1BTC and 1ETH ETFs, which will provide access to the performance of the spot prices of Bitcoin and Ethereum,” Vynokur said.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

4 months 1 week ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

4 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

6 months 2 weeks ago

Commonwealth Bank has formally dropped to zero advisers following LGT Crestone’s acquisition of its advice arm – some six years on from the Hayne royal commission. ...

1 week 3 days ago

ASIC has banned a former NSW adviser from providing advice for 10 years for investing at least $14.8 million into a cryptocurrency-based scam. ...

3 days 16 hours ago

ASIC has issued a warning to financial advisers to ensure they are complying with client consent requirements when entering into ongoing fee arrangements....

1 week 2 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
3