Bitcoin hits the big time as ASIC approves crypto ETFs in Australia – Small Caps

Bitcoin hits the big time as ASIC approves crypto ETFs in Australia – Small Caps

Bitcoin Ethereum CRYP crypto ETF Australian Securities and Investments Commission ASIC Betashares
The new guidance provided by ASIC will allow for the creation of ETFs that directly invest in cryptocurrencies such as Bitcoin and Ethereum.

After years of waiting, Australians who want to invest in cryptocurrency assets without running the risk of directly buying coins will finally get their chance with the looming launch of a raft of crypto-focussed exchange traded products.

Australia’s corporate regulator, the Australian Securities and Investments Commission (ASIC), has finally allowed for a range of cryptocurrency-related ETFs, which should see Bitcoin and Ethereum-backed investment funds trading on the ASX in the coming months.

That move follows the launch of the first Bitcoin futures ETF in the US, after a protracted regulatory process, and the successful launch of a Canadian ETF earlier this year.

The first local ETF out of the blocks on the ASX is likely to be Australian fund manager BetaShares, which has been signing up those interested in an exchange-traded product that consists of
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