Australia Launches Bitcoin ETFs As Market Crashes

  • Australian bitcoin ETFs went live on Thursday.
  • Both a spot bitcoin fund, the country’s first, and a fund of funds launched on the Australian Cboe.
  • The launch was a timid one amid a broader market sell-off.

Two bitcoin exchange-traded funds (ETFs) started trading today on the Australian Cboe Global Markets Inc., one being a spot bitcoin ETF and the other investing in a spot bitcoin ETF overseas, according to a press release sent to Bitcoin Magazine.

The 21Shares Bitcoin ETF (EBTC:AU) is a spot bitcoin ETF offered in partnership with ETF Securities. EBTC directly invests in bitcoin and stores it in cold storage on Coinbase. The Cosmos Purpose Bitcoin Access ETF (CBTC:AU), on the other hand, invests in the Purpose Bitcoin ETF, the world’s first physically-settled bitcoin ETF in North America.