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Australian Securities Exchange May Launch First Crypto ETF This Year: Report

The ASX said it is “spending an enormous amount of time” on digital assets.

Updated Dec 10, 2022, 9:34 p.m. Published Apr 30, 2021, 5:46 p.m.

The Australian Securities Exchange (ASX) may launch a cryptocurrency exchange-traded fund (ETF) by the end of this year, according to a reporthttps://www.businessinsider.com.au/australia-crypto-etf-asx-bitcoin-2021-4 by Business Insider Australia, which cited multiple people familiar with the situation.

A number of ETF applications are currently being assessed by the exchange, the report said,
The ASX wouldn’t confirm a potential ETF listing is in the works, but did say it is “spending an enormous amount of time” on digital assets, Business Insider said.
The ASX has acknowledged digital assets have become "too well-established" and “well known” for the exchange to ignore, the report said.
“You can see how mainstream this has become at an institutional level in developed markets, like the U.S., Canada, Europe and the UK. You can’t ignore that. We can’t ignore it, and we’re not,” ASX executive general manager Max Cunningham told the publication.
So far this year, Canada has listed four bitcoin ETFs and four ether ETFs on the Toronto Stock Exchange (TSX).

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Tanzeel Akhtar

Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.