- 21Shares, which has products listed on 10 regulated European exchanges, will feature two spot crypto ETFs
- The firm’s pair of ETFs are set to launch the same day as a fund proposed by Cosmos Asset Management, which intends to invest in shares of a Canadian bitcoin ETF
The inaugural australian ETFs to invest directly in bitcoin and quintessence are set to hit the commercialize next workweek while US fund issuers continue to work with regulators to secure a list .
Switzerland-based 21Shares, the world ’ south largest issuer of crypto exchange-traded products ( ETPs ), has teamed up with ETF Securities to launch the funds .
The ETFS 21Shares Bitcoin ETF ( EBTC ) and the ETFS 21Shares Ethereum ETF ( EETH ), which track the monetary value of bitcoin and quintessence in australian dollars, are amply backed by the respective assets held in cold storage by Coinbase .
Both ETFs are expected to list on the Cboe Australia substitution on April 27.
21Shares CEO Hany Rashwan told Blockworks the firm has been working to provide australian investors easier access to crypto for years. Running the world ’ sulfur longest-running spot Bitcoin ETP, which launched in Switzerland in 2019, the firm has navigated everything “ from contentious forks to stock splits, ” he added .
“ That valuable have and abstruse datum is systematically implemental in all of our regulative conversations, ” Rashwan said. “ There ’ s more to crypto than just bitcoin and ethereum, and we look forward to making the entire crypto global accessible and investable for everyone around the world. ”
While ETFs investing directly in cryptoassets have launched across Europe, Canada and elsewhere, the products break new reason for Australia, whose regulators have previously viewed the digital assets as volatile and unfit for the nation ’ s fiscal markets .
Some efforts from the country ’ randomness political elite signal a willingness to work constructively with crypto proponents in a command to usher in a fresh age for australian investors backed by appropriate legal frameworks .
Those promises are being bolstered by attempts to push the state ’ s forward-thinking approach toward greater digital asset adoption including the secret sectors ’ experiment with the nascent asset class .
death month, Australia ’ s ANZ Bank became the beginning major fiscal initiation in the country to issue and execute payment of a stablecoin linked to the state ’ s dollar. A k light from the nation ’ s primary clearing house marks even another gradation along Australia ’ s travel to crypto borrowing .
indeed, the australian Financial Review reported Tuesday that Cosmos Asset Management would launch the area ’ s first bitcoin ETF on April 27. rather of directly spot exposure, Cosmos ’ fund is expected to invest in crypto through Purpose Investments ’ bitcoin ETF — which launched on Canada ’ south Toronto Stock Exchange in February 2021 .
21Shares has approximately $ 2.5 billion in assets under management. Its products are listed on 10 determine european exchanges.
Read more: Crypto Investing 101
“ Once we decided to build a image of crypto ETFs for the australian commercialize, there was only one partner we wanted to work with, ” Graham Tuckwell, executive president of ETF Securities Australia, said in a affirmation. “ [ 21Shares ’ ] pioneering approach to secure investment in cryptocurrency has been emulated by other fund managers around the populace. ”
21Shares has launched a handful of ETPs this year, including products with Aave ( AAVE ), Chainlink ( LINK ) and Uniswap ( UNI ) as their underlie assets. Rashwan previously told Blockworks that the firm aims to support what it considers to be the peak 50 cryptocurrencies by the end of the year .
The pending launches come as the SEC continues denying spot bitcoin ETF proposals from US investment company issuers. Crypto firm executives remain split on when precisely such a product could be approved .
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