On Thursday, two separate bitcoin ETFs will launch, one allowing direct access to bitcoin while the other offers shares in a company that offers spot-bitcoin exposure.
On Thursday, two separate bitcoin ETFs will launch, one allowing direct access to bitcoin while the other offers shares in a company that offers spot-bitcoin exposure.
- Two bitcoin ETFs in Australia are set to launch this Thursday, May 12.
- The 21 Shares Bitcoin ETF will offer direct access to bitcoin backed by BTC in cold storage.
- The Cosmos Purpose Bitcoin Access ETF will allow investors to invest in shares of Purpose Investment’s spot-bitcoin ETF located in North America.
Two bitcoin exchange-traded-funds (ETFs) are set to go live on Thursday in Australia after a delay stalled the previous launch [1]date of April 27, according[2] to announcements[3] made by the Cboe Australia exchange.
The Cosmos Purpose Bitcoin Access ETF (Cboe:CBTC) will be managed by Cosmos Asset Management Pty Ltd, while the 21 Shares Bitcoin ETF will be managed in partnership with ETF Securities (Cboe: EBTC).
21 Shares and ETF Securities will offer direct investment opportunities for investors to interact with bitcoin. The 21 Shares fund is backed with bitcoin held in cold storage by Coinbase. In the original press release[4] primed for the April 27 release, 21 Shares said:
“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.”
Cosmos was the first bitcoin ETF to receive approval[5] in Australia after it met a 42% margin requirement[6] from ASX Clear, a large Australian clearing house. Cosmos planned to not offer spot-bitcoin, but rather offer investors the
