Crypto ETF breaks ASX records

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.

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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.

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