three Australians cryptocurrency The exchange-traded fund (ETF) plans to remove its products from the stock market due to the decline in asset prices.
Three Cryptocurrency ETFs to be Delisted for Lack of Interest in Australia
Cosmos Asset Management plans to delist the Cosmos Purpose Bitcoin Access ETF (CBTC) and Cosmos Purpose Ethereum Access ETF (CPET) funds, according to a November 2 letter to securities and derivatives exchange Cboe Australia.
One Managed Investment Funds Limited also notified Cboe in a separate letter that it will request to cancel its bid for the Cosmos Global Digital Miners Access ETF.
Each of the three Cosmos funds that will soon be delisted has a net asset value of less than A$1 million.
Cosmos sent a letter to Cboe on Oct. 31, requesting a halt to trading on CBTC and CPET ETFs. One Managed Investment Funds Limited also requested in a separate letter to cease operations on the Cosmos Global Digital Miners Access ETF (DIGA).
Spot crypto ETFs are relatively new in Australia, where the first of these products was launched in May as crypto asset prices began to fall.
The Cosmos Purpose Bitcoin Access ETF is owned by Zurich-based 21Shares. bitcoin and Ethereum Along with its ETFs, Cboe was one of the first products launched in Australia. Cosmos’ Purpose Ethereum Access ETF was launched in June.
The DIGA ETF was first launched in October 2021 when Cboe Australia was known as Chi-X.
Cosmos’ intention to delist the funds was first reported by Bloomberg.
*Not investment advice.
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