Invest
Bitcoin and ethereum ETFs to launch next week
The two new funds are the first Australian ETFs to invest directly in bitcoin and ether, according to ETF Securities and 21Shares.
Bitcoin and ethereum ETFs to launch next week
The two new funds are the first Australian ETFs to invest directly in bitcoin and ether, according to ETF Securities and 21Shares.
ETF Securities and 21Shares have confirmed that two new crypto-based ETFs will list on the Cboe Exchange next week.
According to the two firms, the ETFS 21Shares Bitcoin ETF (EBTC) will be the first Australian ETF to invest directly in bitcoin, while the ETFS 21Shares Ethereum ETF (EETH) will be the first to invest directly in ether.
In a statement, ETF Securities and 21Shares said that the ETFs would offer Aussies “simple, cost-effective and direct access” to crypto investments.
“We're so incredibly excited to be able to offer the first direct exposure to bitcoin and ethereum ETF in Australia,” said 21Shares CEO and co-founder Hany Rashwan.
“Australian investors clearly want and deserve an affordable, easy, and professional way to access the growing crypto-asset class and we're delighted to continue building accessible bridges into the crypto world.”
Originally announced in December last year, the ETFs will track the price of their respective cryptocurrency in Australian dollars and are fully backed by crypto held in cold storage by Coinbase.
ETF Securities head of distribution Kanish Chugh said that the funds would allow Aussie investors to overcome some of the challenges of investing in crypto such as low exchange quality, weak custody arrangements, the risk of hacking and the potential loss of private keys and passwords.
He added that bitcoin was the best performing asset over the past ten years, while ether was one of the top performers over the past five years.
“They may be used as 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,” he said.
Mr Rashwan noted that while bitcoin and ethereum were the focus of the first two ETFs, there were “even more exciting plans” in store for Australian investors.
Both the EBTC and EETH will go live on the Cboe Exchange on 27 April.
They will join a number of other locally-listed, crypto-related ETFs including the BetaShares Crypto Innovators ETF listed on the ASX, and the Cosmos Global Digital Miners Access ETF listed on Cboe.
The Australian Financial Review reported on Tuesday that Cosmos Asset Management was also planning to launch its own bitcoin ETF locally.
The new Cosmos Asset Management bitcoin ETF will invest in the Canada-based Purpose Bitcoin ETF and may launch as early as 27 April.
RELATED ARTICLES
Cryptocurrency
Cryptocurrency losses mount as hacks and scams continue to plague the industry
The cryptocurrency industry has lost over $400 million to hacks in 2024 so far, with the decentralized finance (DeFi) sector being the most vulnerable, according to research by experts at Smart ...Read more
Cryptocurrency
Institutional investors bolster cryptocurrency allocations amidst growing confidence
A recent study by London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund, has revealed a significant shift in the mindset of institutional investors and wealth ...Read more
Cryptocurrency
Institutional investors set sights on expanding crypto portfolios in the coming year
New research from London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund manager, indicates a significant positive shift in institutional investors' attitudes ...Read more
Cryptocurrency
BingX reports significant growth and innovation in 2023 amidst industry challenges
BingX, a prominent crypto exchange, has disclosed notable achievements in 2023, amidst a backdrop of global economic uncertainty and sector-specific turbulence. The company has managed to double its ...Read more
Cryptocurrency
Altcoin interest skyrockets as Bitcoin and Ethereum boost market optimism, study finds
Interest in altcoins and other digital assets is on the rise, propelled by growing confidence in the performance of Bitcoin and Ethereum, according to a new study conducted by Nickel Digital Asset ...Read more
Cryptocurrency
Global survey reveals bullish outlook on next Bitcoin halving among institutional investors
A new global survey conducted by Nickel Digital Asset Management, a premier digital assets hedge fund manager based in London, has highlighted a growing positivity among institutional investors and ...Read more
Cryptocurrency
Nickel Digital Asset Management reports strong 2023 performance, surpassing key financial indices
London's Nickel Digital Asset Management, a leading digital assets hedge fund, celebrated a stellar year with returns that significantly outpaced both hedge fund indices as well as traditional ...Read more
Cryptocurrency
Time to expand your crypto horizons: beyond Bitcoin for better returns
In an intriguing twist for cryptocurrency investors, it's suggested that the spotlight may be shifting from the long-time favourite, Bitcoin, to a broader spectrum of digital assets. Read more
Cryptocurrency
Cryptocurrency losses mount as hacks and scams continue to plague the industry
The cryptocurrency industry has lost over $400 million to hacks in 2024 so far, with the decentralized finance (DeFi) sector being the most vulnerable, according to research by experts at Smart ...Read more
Cryptocurrency
Institutional investors bolster cryptocurrency allocations amidst growing confidence
A recent study by London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund, has revealed a significant shift in the mindset of institutional investors and wealth ...Read more
Cryptocurrency
Institutional investors set sights on expanding crypto portfolios in the coming year
New research from London-based Nickel Digital Asset Management, a leading regulated digital assets hedge fund manager, indicates a significant positive shift in institutional investors' attitudes ...Read more
Cryptocurrency
BingX reports significant growth and innovation in 2023 amidst industry challenges
BingX, a prominent crypto exchange, has disclosed notable achievements in 2023, amidst a backdrop of global economic uncertainty and sector-specific turbulence. The company has managed to double its ...Read more
Cryptocurrency
Altcoin interest skyrockets as Bitcoin and Ethereum boost market optimism, study finds
Interest in altcoins and other digital assets is on the rise, propelled by growing confidence in the performance of Bitcoin and Ethereum, according to a new study conducted by Nickel Digital Asset ...Read more
Cryptocurrency
Global survey reveals bullish outlook on next Bitcoin halving among institutional investors
A new global survey conducted by Nickel Digital Asset Management, a premier digital assets hedge fund manager based in London, has highlighted a growing positivity among institutional investors and ...Read more
Cryptocurrency
Nickel Digital Asset Management reports strong 2023 performance, surpassing key financial indices
London's Nickel Digital Asset Management, a leading digital assets hedge fund, celebrated a stellar year with returns that significantly outpaced both hedge fund indices as well as traditional ...Read more
Cryptocurrency
Time to expand your crypto horizons: beyond Bitcoin for better returns
In an intriguing twist for cryptocurrency investors, it's suggested that the spotlight may be shifting from the long-time favourite, Bitcoin, to a broader spectrum of digital assets. Read more
