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Australia’s First Bitcoin ETF to Be Listed Next Week: Report
Cosmos Asset Management’s Bitcoin ETF will be listed on the Cboe trading platform.
Cosmos Asset Management’s Bitcoin ETF, Australia’s first bitcoin exchange-traded fund, will be listed on the Cboe equities trading platform next week, Australian Financial Review reported on Tuesday.
- ASX Clear, the clearing house at the center of Australian capital markets, has confirmed it has four market participants that will cover initial margin requirements of 42%.
- A notice will be sent to market participants on Wednesday, the newspaper said, citing Hamish Treleaven, ASX's chief risk officer.
- That will allow the product to start trading on April 27. The Cosmos fund invests in crypto through the Purpose Bitcoin ETF that listed on the Toronto Stock Exchange last November.
- There is speculation of $1 billion in inflows when the ETF goes live in Australia next week, the newspaper reported.
- Cosmos has two existing products, including the Global Digital Miners Access ETF, which trades on Cboe Australia with net assets of $2.1 million, and the unlisted Bitcoin Wholesale Access Fund.
- ASX Clear’s approval for approving the Cosmos Bitcoin ETF may pave the way for the National Stock Exchange of Australia to begin listing bitcoin ETFs.
STORY CONTINUES BELOW
Oliver Knight
Oliver Knight is the co-leader of CoinDesk data tokens and data team. Before joining CoinDesk in 2022 Oliver spent three years as the chief reporter at Coin Rivet. He first started investing in bitcoin in 2013 and spent a period of his career working at a market making firm in the UK. He does not currently have any crypto holdings.
