Exciting news has come from down under, as Australia greenlit its first Bitcoin ETF. As confirmed by the Australian news outlet AFR, the BTC ETF will be listed on the Cboe equities trading platform no later than 27 April.
The listing will also provide a clear picture of the cryptocurrency demand across the country. The overall attitude towards digital assets in Australia has been very positive, but this new fund should really put their popularity to the test.
ASX Clear, an Australian clearing house has finally found four investors who together add up to the 42% margin required by ASX Clear. Three of them should be institutional-based, whilst one of them is said to be a retail investor.
The ETF will be named the Cosmos Asset Management Bitcoin ETF and is expected to start trading on Cboe on 27 April. Experts are predicting a $1 billion cash inflow during its opening week.
The country has been headed in the right direction when it comes to crypto for quite some time now. The new listing of Bitcoin ETF could further propel Australia’s attempt at becoming the leading digital asset market, as it is apparent that it has been taking all the right steps.