ASIC open to a bitcoin-linked ETF listing on the ASX – The Australian Financial Review

ASIC open to a bitcoin-linked ETF listing on the ASX – The Australian Financial Review

Cosmos is now planning to list its bitcoin ETF on the ASX, which has not approved the listing of any bitcoin-related companies or products before. But it is now more open to doing so, as interest in cryptocurrency from professional investors and mainstream payments players surge. After Tesla invested $US1.5 billion ($1.9 billion) in bitcoin this week, Mastercard said on Friday it would accept bitcoin on its network. Iris Energy also indicated this week it is planning an ASX IPO for a mining operation after small cap funds backed a $25 million raising.

James Manning, one of the founders of Cosmos Capital: “[ASIC] have indicated their policy will not allow the product to come to market.” Jessica Hromas

“We have taken a cautious view in the past to this. That is changing to a degree: we are looking at it,” ASX CEO Dominic Stevens told The Australian Financial Review this week. “The world of bitcoin has changed since the last run, and my gut feel is this dominated by more corporate activity and institutions.”

Australia was a pioneer in bitcoin regulation when it brought exchanges under AUSTRAC’s remit in 2018. Now lawyers are calling for ASIC to sharpen its guidance around non-bitcoin crypto offerings. They say
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