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Australian Crypto ETF Launch Delayed Due to Pressure From Unidentified Broker: Report
The race to list a crypto ETF in Australia has been dealt a setback hours before it was due to go live on CBOE Australia.
The highly anticipated launch of three crypto-focused exchange-traded funds (ETF) in Australia has been halted less than 24 hours before a proposed listing on CBOE Australia, according to an AFR report.
- The Cosmos Asset Management and ETF Securities funds were due to be begin trading at 10 a.m. local time on April 27.
- "Standard checks prior to the commencement of trading are still being completed," stated CBOE Australia.
- The delay is being blamed on a "prime" or "executing" broker who has yet to approve the products due to a delay in appointing a market maker for the product's launch, according to AFR.
- ETF Securities head of distribution Kanish Chugh said the delay is "no fault whatsoever of ETF Securities or the exchange," adding the fund is working quickly to resolve the issue.
- "Cosmos AM has approval from the exchange to commence quoting and we’re working towards that goal," said a Cosmos spokesperson.
- CBOE Australia has revealed that an update will be provided in "the coming days."
STORY CONTINUES BELOW
Read more: Australia Crypto ETF Market Heats Up With Two More Spot Funds Set to Launch
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.
