According to the Australian Financial Review, Australia will make its first debut next week. To Bitcoin ETF will meet.
A first for Australia, Cosmos Asset Management has received the green light from ASX Clear, the country’s main clearinghouse for capital markets.
Australia’s First Bitcoin ETF May Launch on April 27
After a 7-day notice period to investors, swap participants, brokers and market makers, the ETF will be able to launch on CBOE Australia from 27 April.
As with many Bitcoin-focused ETFs, the Cosmos company’s product will invest in shares of the world’s first BTC ETF, the Purpose Bitcoin ETF.
The ETF in question has been trading on the Toronto Stock Exchange in Canada for over a year.
If interest in Cosmos’ Bitcoin ETF is similar to its Canadian counterpart, $550 million to $750 million could flow into the fund within weeks as investors rush into it.
According to the report, ASX Clear has four market participants, including one retail and three institutional clearing participants, ready to meet the 42% margin requirement for clearing exposures.
ASX Clear is known as a clearing house for all Australian stocks, structured products, guarantees and Australian Securities Exchange equity derivatives.
Approval of the country’s BTC ETF means that the ruling party in the country cryptocurrency It comes after he introduced legislation to regulate custody, DAOs, cryptocurrency taxation, digital asset service provider licensing and many other areas.
*Not investment advice.