Cosmos Asset Management, Australia’s Digital Asset Manager, has collaborated with Canada’s Objective Investment to launch an Ethereum Exchange Traded Fund for Australian investors.
The new Cosmos-Purpose Ethereum Access ETF, listed on Cboe Australia, is a direct investment in the Toronto-listed Purpose Ether ETF. Canadian ETFs hold physically settled ether tokens rather than derivatives, backed by cryptocurrency custodian Gemini.
According to Cboe Australia, Toronto-listed vehicles have accumulated more than A $ 570 million ($ 408 million) in assets since their launch in April last year.
Dan Annan, CEO of Cosmos AM, said the new ETF “by eliminating the need for Ethereum wallets and cold storage, which is often a limiting factor for anyone interested in investing in cryptocurrencies. It will make it easier for Australians to introduce Ethereum into their portfolio. “
“Investors continue to seek cryptocurrency exposure, so it’s important that the market provides them with choice and access,” said Vic Jokovic, boss of Cboe Australia. He added that the new ETF “provided Australian investors with unique access to the world’s first physically settled ether ETF.”
This article was previously published by Ignites Asia, a title owned by FTGroup.
Shortly after Cosmos AM listed the Cosmos-Purpose Bitcoin Access ETF (CBTC) on May 12 with Purpose Investments, Cosmos AM began trading Cosmos Global Digital Miners Access ETFs.
ETF Securities and Swiss 21 Shares launched ETFS 21 Shares Ethereum ETF (EETH) and ETFS 21 Shares Bitcoin ETF (EBTC) on May 12, the same day Cosmos AM listed its Bitcoin vehicle. ..
Australia’s first three crypto ETFs began trading after a two-week delay after it was reported that a private third-party broker had blocked listings at the last minute.
The launch coincided with a major cryptocurrency crash.
* Ignites Asia is a news service issued by FT specialists for professionals working in the asset management industry. It covers everything from new product launches to regulations and industry trends. Trials and subscriptions are available at the following URL: ignitesasia.com..
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