Cosmos Asset Management beat out local contenders VanEck, BetaShares and EFT Securities to issue Australia’s first Bitcoin ETF.
The Cosmos Asset Management Bitcoin ETF will be listed on CBOE Australia, with approval from the Australia Securities Exchange Clear capital markets clearinghouse.
Kurt Grumelart, trader at Australian wealth management firm Zerocap, called the ETF approval “exciting” and commented that it “validates further institutional adoption” following the record-breaking launch of the Betashares CRYP fund that invests in crypto-exposed United States Shares.
Australian regulators have been working to hammer down clear-cut rules for the crypto industry over the past year.