The first BTC and ETH ETFs will soon debut in Australia while US investors still await SEC approval. So let’s read more in our latest crypto news.

The ETFs 21Shares Bitcoin ETF and ETFs 21Shares ETH NFT will track crypto prices in Australian dollars. The first BTC and ETF ETFs are traded on the CBOE exchange. As US investors continue to wait for SEC approval of a crypto exchange-traded fund, Australians will join Canadians for direct access to BTC and ETH ETFs. Australian asset management firm ETF Securities and Switzerland-based ETF issuer 21Shraes announced the launch of the ETFs. The ETFs track the price of Bitcoin, Ethereum and Australian Dollars and are traded on the Chicago-based CBOE exchange.

21 listed stocks, cosmos, atom, blockchain

ETFs are investments that trade on a standard stock exchange like stocks, and they can track the price of a single stock, asset or commodity or asset, or an entire basket of them. The Bitcoin ETF will allow people to participate in the price of BTC without having to buy the cryptocurrency. ETFs are quite desirable for retail investors because they’re often cheaper than buying individual stocks, can be easily built into retirement savings, and have investor protection features in the event of theft. People don’t have to worry about opening an account with the crypto exchange or developing a custodial strategy. 21Shares CEO Hany Rashwan said:

“Australian investors clearly want and deserve an affordable, easy and professional way to gain exposure to the growing crypto asset class.”

The US-based crypto investment firms are still on the SEC’s desk. Grayscale, for example, is trying to convert its BTC trust into an ETF that should adjust to the price of the underlying asset, and companies like Antony Scaramucci’s SkyBridge Capital see the ETF as much more profitable for companies as there are few restrictions , who can invest.

Australian regulator, meta, ads, crypto scams

While the sEC must approve a BTC-backed ETF, it has approved some BTC futures ETFs that track the price of BTC futures contracts, and the futures contracts allow buyers and sellers to trade the cryptocurrency at a predetermined price to act before a predetermined date. SEC Chairman Gary Gensler’s reasoning for allowing futures ETFs but not spot market ETFs is tied to investor protection under the law that governs BTC futures ETFs. However, Canada and Australia outperform the US in approving these tools.

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