The Switzerland-based investment product issuer – 21Shares – joined forces with ETF Securities to launch the first two exchange-traded funds in Australia that will provide customers with direct access to cryptocurrencies.
While the American financial regulators keep rejecting cryptocurrency spot ETF applications by major firms, such products started emerging in other countries.
According to a recent press release, Australia will also put its name on that list by approving two such products.
“Once we decided to build a range of crypto ETFs for the Australian market, there was only one partner we wanted to work with, and that’s 21Shares.
He said the team behind his company is “incredibly excited” to be able to offer the first ETFs that grant direct exposure to Bitcoin and Ethereum in Australia.
As CryptoPotato reported earlier this week, Australia has already hopped on the crypto ETF bandwagon by launching the Cosmos Asset Management Bitcoin ETF, which will also start trading on April 27.
It is safe to say that blockchain technology and cryptocurrencies have been flourishing in Australia since the beginning of 2022.
Nearly a month later, the leading trading venue FTX established an Australian branch called FTX Australia Pty Ltd.
At the same time, the largest bank in the country – Commonwealth Bank of Australia – revealed its intentions to provide additional digital asset opportunities to customers.