First-Ever Bitcoin ETF to Go Live in Australia Next Week: Report

While US watchdogs continue rejecting BTC spot ETF application, Australia is reportedly going the Canadian route and will list the first exchange-traded fund it has on the Cboe equity trading platform as soon as next week.

The local report dated April 19 reads that Australia’s main equity capital market regulator – ASX Clear – has amassed four participants prepared to meet the stringent margin requirements needed to cover the settlement risks for BTC, known for its enhanced volatility.Three of them come from an institutional standpoint, while the last is a “significant retail clearing participant willing to provide the 42% margin demanded by ASX Clear.”The regulator’s chief risk officer – Hamish Treleaven – confirmed that the ASX now has “our minimum number of clearing participants, and that means we are good to go.”The executive will notify the market participants tomorrow about the agency’s approval, which will give them a seven days notice to “prepare for the new product.”Consequently, the Cosmos Asset Management bitcoin ETF will be able to start trading on the Cboe equities trading exchange on April 27.According to the report, the Cosmos BTC ETF is a “fund of funds” as it invests in the Purpose Bitcoin ETF available for trading in Toronto, Canada. According to the report, only two bitcoin futures ETFs have been approved by the United States Securities and Exchange Commission.
Read More

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami