Main navigation

Bitcoin ETF Likely to Be Approved by Australia

Fri, 29/10/2021 - 12:04
Bitcoin ETF Likely to Be Approved by Australia
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Australian regulators are likely to approve ETPs based on Bitcoin and Ethereum in the near future, and that includes ETFs, according to CoinDesk.

Australia may approve Bitcoin and Ether ETPs soon

Australian securities regulator ASIC stated on Friday that Bitcoin and Ethereum are likely to be legally suitable by all the necessary criteria as a basis for ETPs.

Today, ASIC released a set of guidelines for companies wishing to launch crypto-based ETPs, including ETFs. It was a response to the request filed this summer.

So far, Bitcoin and Ethereum are likely to meet all five criteria voiced by ASIC.

A Bitcoin ETF launched by BetaShares may already start trading in Australia in the near future.

Whales Are Powering This Rally, Kraken Report

Bitcoin ETFs trading in the U.S.

In the U.S., a Bitcoin futures ETF provided by ProShares launched on the NYSE on Oct. 19. Three days later, another Bitcoin-based futures ETF, launched by Valkyrie, started off on the Nasdaq, pushing the Bitcoin price down.

As reported by U.Today on Thursday, Direxion plans to roll out a Bitcoin ETF that will allow shorting BTC futures.

However, the company warns of high risks for short-sellers, saying that they may lose all of their funds.


Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles