ETF Securities sets launch date for Bitcoin ETF
ETF Securities will launch its first spot Bitcoin ETF this week, in partnership with European cryptocurrency manager, 21 Shares.
The Bitcoin (EBTC) and Ethereum (EETH) ETFs would launch on 27 April on the Cboe Australia exchange.
The firm had flagged it was planning a launch earlier this year after the Australian Securities and Investments Commission (ASIC) introduced a ‘crypto-asset’ category in the licensing application for responsible entities for Bitcoin and Ethereum.
Kanish Chugh, head of distribution at ETF Securities, said: “We are excited to announce that after many months of anticipation, ETF Securities will be launching Australia's first spot Bitcoin and Ethereum ETFs.
“EBTC and EETH will give investors a secure and accessible way to trade two of the leading cryptocurrencies via the regulated structure of an ETF.
“They may be used as an alpha tilts or side bets in a portfolio. They can also be bought as portfolio diversifiers, as they are completely different asset and uncorrelated to shares, bonds and commodities.”
VanEck and BetaShares had also announced plans to launch a Bitcoin ETF this year.
According to research by Roy Morgan, over one million Australians held at least one cryptocurrency.
AUTHOR
Laura Dew
Recommended for you
Natixis Investment Managers has hired a distribution director to specifically focus on the firm’s work with research firms and consultants.
The use of total portfolio approaches by asset allocators is putting pressure on fund managers with outperformance being “no longer sufficient” when it comes to fund development.
With evergreen funds being used by financial advisers for their liquidity benefits, Harbourvest is forecasting they are set to grow by around 20 per cent a year to surpass US$1 trillion by 2029.
Total monthly ETF inflows declined by 28 per cent from highs in November with Vanguard’s $21bn Australian Shares ETF faring worst in outflows.
