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Local Bitcoin ETFs in pipeline

Dona Ferentes

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The race to list the first bitcoin ETF in Australia is hotting up with Cosmos Capital, the crypto fund manager founded by James Manning, signing a partnership with the Canadian company that launched the world’s first bitcoin ETF.

Cosmos will sell an undisclosed number of new shares to Purpose Investments as part of a strategy aimed at listing some or all of its five crypto funds in Australia. Purpose has five crypto funds:
  • the $C1.7 billion Bitcoin ETF,
  • the $C3.8 million Crypto Opportunities ETF,
  • the $C408 million Ether ETF,
  • the $C42 million Ether Yield ETF, and
  • the $C27 million Bitcoin Yield ETF.
Cosmos entered the crypto funds management space last year with a product called the Global Digital Miners Access ETF which has net assets of $1.9 million and is traded on Cboe Australia and the unlisted $5.6 million Bitcoin Wholesale Access Fund.

Cosmos is itself owned by Mawson Infrastructure Group, a Nasdaq listed bitcoin miner (originating in Australia, Mawson met impediments to listing on the ASX and went to Nasdaq (where it raised $50M to have a $1B valuation and is now with a $650M market cap).

Others in the race to launch the first Australian bitcoin ETF include ETF Securities, VanEck, BetaShares and Monochrome Asset Management.

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Garpal Gumnut

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The race to list the first bitcoin ETF in Australia is hotting up with Cosmos Capital, the crypto fund manager founded by James Manning, signing a partnership with the Canadian company that launched the world’s first bitcoin ETF.

Cosmos will sell an undisclosed number of new shares to Purpose Investments as part of a strategy aimed at listing some or all of its five crypto funds in Australia. Purpose has five crypto funds:
  • the $C1.7 billion Bitcoin ETF,
  • the $C3.8 million Crypto Opportunities ETF,
  • the $C408 million Ether ETF,
  • the $C42 million Ether Yield ETF, and
  • the $C27 million Bitcoin Yield ETF.
Cosmos entered the crypto funds management space last year with a product called the Global Digital Miners Access ETF which has net assets of $1.9 million and is traded on Cboe Australia and the unlisted $5.6 million Bitcoin Wholesale Access Fund.

Cosmos is itself owned by Mawson Infrastructure Group, a Nasdaq listed bitcoin miner (originating in Australia, Mawson met impediments to listing on the ASX and went to Nasdaq (where it raised $50M to have a $1B valuation and is now with a $650M market cap).

Others in the race to launch the first Australian bitcoin ETF include ETF Securities, VanEck, BetaShares and Monochrome Asset Management.

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Perhaps our good friends in Australian ETFland have missed the tulpenboot.

gg

hãy cẩn thận với con chó trong nhà hàng này
 

Dona Ferentes

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The first test of Australian retail demand for crypto will happen next week with the listing of the country’s first bitcoin ETF on the Cboe equities trading venue. There is speculation $1 billion will flow into the country’s first bitcoin ETF.

ASX Clear, the powerful clearing house at the centre of Australia’s equity capital markets, now has four market participants willing to stump up the tough margin requirements needed to cover the settlement risks for this highly volatile asset.

..... the only bitcoin ETF product in front of ASX Clear at the moment, the Cosmos Asset Management bitcoin ETF , can start trading on the Cboe on April 27.

The Cosmos product is essentially a fund of funds because it invests in the $C1.4 billion Purpose Bitcoin ETF listed in Toronto, Canada. This was the first bitcoin ETF in the world.

It is believed Cosmos has a product disclosure statement for its bitcoin ETF which has been screened by ASIC.
 

Dona Ferentes

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Cboe Australia, the main competitor to the Australian Securities Exchange, will host three ETFs , starting Thursday:
.... the first movers in the new category of sharemarket-listed funds tracking the prices of large cap crypto assets bitcoin and ether.

the first batch of crypto ETFs would be the most expensive passively managed, non-leveraged funds on the local sharemarket, all charging a management fee of 1.25 per cent a year, [and] the rate cards [have been described] as “ridiculous”, particularly given the funds provide a passive exposure to the spot prices of a single asset and do not aim to outperform the market.
 

Dona Ferentes

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Exchange operator Cboe Australia and broker ETF Securities have launched the country’s first exchange traded funds dedicated to the two largest cryptocurrencies, bitcoin and Ethereum.

The ETFS 21Shares Bitcoin ETF (ASX code : EBTC) and the ETFS 21shares Ethereum ETF (ASX code : EETH) were both developed in conjunction with exchange traded product specialist 21Shares to tap the growing interest in digital currencies in Australia.

Cboe Australia chief executive, Vic Jokovic, described the two funds as “breakthrough products that will pave the way for more Australians to expose their portfolios to cryptocurrency in a regulated manner”.

............. philanthropy knows no bounds.
 

Garpal Gumnut

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Exchange operator Cboe Australia and broker ETF Securities have launched the country’s first exchange traded funds dedicated to the two largest cryptocurrencies, bitcoin and Ethereum.

The ETFS 21Shares Bitcoin ETF (ASX code : EBTC) and the ETFS 21shares Ethereum ETF (ASX code : EETH) were both developed in conjunction with exchange traded product specialist 21Shares to tap the growing interest in digital currencies in Australia.



............. philanthropy knows no bounds.
Good luck with that.

This advice is specific and not general in nature to myself.

gg
 
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Betashares is adding to it's "thematic" ETF list to provide exposure to global solar and uranium companies.
Solar ETF (TANN)
Uranium (URNM)

The devil will be in the details. I monitor similar sector ETFs in the US (TAN, URA).
 

Dona Ferentes

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Cosmos Asset Management launched the Cosmos Purpose Bitcoin Access ETF (CBTC) and Cosmos Purpose Ethereum Access ETF (CPET) earlier this year.

The Bitcoin ETF made its debut on the Cboe Australia exchange (formerly Chi-X) on 12 May. At that time, the Bitcoin price had already taken a big tumble but was still trading for around US$30,000.

While crypto investors had hoped that may be the bottom for the Ethereum and Bitcoin price rout, we know now that’s not how it panned out.

With the funds under pressure, yesterday Cosmos informed investors that it “will be applying to revoke the funds’ quotation on Cboe”.

Trading in both the Cosmos Bitcoin ETF and Ethereum ETF was halted on Monday. Cosmos stated, “Trading on the funds will continue to be halted pending the outcome of the application to Cboe."

WAY OUT.
 

Dona Ferentes

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Cosmos Purpose Bitcoin Access ETF had about $850,000 in assets under management while the Cosmos Purpose Ethereum Access ETF had around $232,000. The Cosmos Global Digital Miners Access ETF, which has One Investments acting as RE, had about $632,000.

Cosmos declined to comment on the reasons for the delisting.

But I think I may be presumptuous enough to comment. Nobody was interested.
 
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