ETFS to launch BTC and ETH ETFs
ETF Securities (ETFS) will launch Bitcoin (BTC) and Ethereum (ETH) exchange traded funds (ETFs) in partnership with European cryptocurrency manager, 21 Shares.
The fund manager said BTC and ETH had been two of the best-performing assets of the past decade.
“Offering a currency without a government, Bitcoin has been described as both an inflation-hedge and ‘digital gold’,” the firm said.
“While Ethereum, thanks to its smart contracts function, is at the centre of most of the world’s blockchain innovation— like non-fungible tokens (NFTs).”
“Australians wanting to buy Bitcoin and Ethereum have historically been forced onto unregulated crypto exchanges.
“But with the launch of Bitcoin and Ethereum ETFs, investors will be able to trade on highly regulated exchanges.”
Zurich-based 21Shares currently had almost US$3 billion ($4.23 billion) in assets under management inside its 20 European crypto exchange traded products (ETPs) and 80 listings.
This was the latest ETF provider to announce plans for a crypto ETF following announcements by VanEck and BetaShares in November.
In November, the Australian Securities and Investments Commission (ASIC) introduced a ‘crypto-asset’ category in the licensing application for responsible entities but so far only extended to Bitcoin and Ethereum with the possibility of more in the future.
Praemium had already approved Monochrome’s Bitcoin Fund, following ASIC’s announcement.
However, some managers had noted there could be problems bringing crypto products to the market.
Recommended for you
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
