Australians will soon have more options for spot cryptocurrency exchange-traded funds (ETFs), as this week a previous delay was given the green light and new funds were added to the ETF market.
The last update came late on Monday, when Cboe Australia issued a round of market advisories saying that three previously delayed funds are expected to start trading on May 12. These are a Bitcoin (BTC) ETF from Cosmos Asset Management, as well as a BTC ETF and a spot Ether (ETH) from 21Shares.
Cboe Australia and Cosmos did not immediately respond to a request for comment, but a 21Shares spokesperson confirmed to Cointelegraph:
“We are going to list on May 12, this Thursday. Downstream issues are resolved.”
On April 26, a day before three of the first cryptocurrency ETFs were to launch, exchange Cboe Australia delayed listing all three funds due to what it said were “standard checks.”
21Shares told Cointelegraph at the time that a “downstream service provider” needed more time to support product launches.who was believed to be a major stockbroker or other major financial institution.
The listing date comes just as a new competitor enters the ETF race. 3iQ, the Canadian company with spot Bitcoin and Ether ETFs listed on the Toronto Stock Exchange (TSX), filed two offering notices with the Australian Stock Exchange (ASX) on April 28.
The notifications revealed the firm’s plans to offer units of its Bitcoin and Ether ETFs on the Cboe Australia exchange. It will provide exposure to crypto assets by buying units of existing funds on the TSX, similar to the Cosmos ETF, which buys the Canadian Purpose Bitcoin ETF.
It’s unclear when the 3iQ funds will list, but with the Cosmos and 21Shares fund listings announced this week, it’s unlikely that 3iQ will win the race to be Australia’s first cryptocurrency ETF, whose prize is believed to be more than USD 1,000 million in tickets.
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