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First Australian Bitcoin ETF to Launch Next and Expectedly Bring $1 Billion to Industry

Tue, 04/19/2022 - 13:54
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Arman Shirinyan
Australia is getting ready for the listing of its first Bitcoin ETF
First Australian Bitcoin ETF to Launch Next and Expectedly Bring $1 Billion to Industry
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Australia is getting ready to enter the list of the first countries that have implemented a spot Bitcoin exchange-traded product as the ETF is expected to start trading on Cboe equities trading venue as traders and analysts expect that $1 billion will flow into the country's first Bitcoin ETF, per Financial Review.

ASX Clear stated that at least four market participants will provide enough liquidity for the products and cover settlement risks for such a highly volatile and risky asset as Bitcoin.

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According to the chief risk officer at ASX, listing and opening for public trading is ready as they are at the minimum number of clearing participants. Seven days after the regulatory approval of ASX Clear, market participants will be notified. In this period, various market participants are going to prepare for live trading, including the intensive work of brokers, cleaners, market makers and investors.

Trading of the Cosmos Asset Management Bitcoin ETF is expected on the exchange until the end of April.

Cosmos's product is not tied to the spot Bitcoin price and is in fact a reflection of the Purpose Bitcoin ETF listed in Canada, which was actually the first Bitcoin ETP.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.