The Australian Financial Review has released information stating Cosmos Asset Management – a Sydney based investment company – is set to release its Bitcoin ETF on the Cboe Exchange on April 27th. This is the first ETF in Australia to list cryptocurrencies, with both shares of Bitcoin and Ethereum in the mix. A prediction of over $1 billion is expected to flood the market in the coming weeks as the doors open to big investors.
This ETF offers the opportunity to invest in Bitcoin without the responsibility of adhering to crypto trading regulations as well as holding the asset themselves. The Bitcoin ETF differs itself from regular Bitcoin buying with its diversified shares of company stocks alongside the cryptocurrency; assets that are not available on most crypto exchanges.
The news comes just weeks after the first major financial institution in Australia – ANZ Bank – issued a stablecoin linked to the AU Dollar, signifying a further push for adoption in the country.