Bitcoin exchange-traded funds are gaining popularity in Australia as regulators complete the regulatory process for products that offer direct exposure to digital assets.
Cosmos Asset Management said that it will invest in the Cosmos Purpose Bitcoin Access ETF, which is listed on the Toronto Stock Exchange and has a market value of $1.6 billion Canadian dollars ($1.3 billion).
Australia Could Become a Gateway for Asian Crypto ETFs
“On April 27, Coinbase Global Inc. will deploy Bitcoin and Ethereum money, while product supporting tokens will be kept in cold storage.” “This is 21Shares’ first venture outside of Europe,” said Hani Rashwan, CEO and co-founder.
While the bitcoin ETF fever peaked last year when the United States approved a fund based on bitcoin futures, anecdotal evidence suggests that cryptocurrency usage is growing in Australia, which some experts say might serve as a gateway for cryptocurrency ETFs in the Asia-Pacific region.
According to Bloomberg, the United States currently holds over 74% of the market value of public crypto funds, with Europe accounting for approximately 15% and Canada accounting for 9%.