Australia’s First Bitcoin ETF to Be Listed Next Week: Report

Cosmos Asset Management’s Bitcoin ETF, Australia’s first bitcoin exchange-traded fund, will be listed on Cboe equities next week, Australian Financial Review reported.

ASX Clear, the clearing house at the center of Australian capital markets, has confirmed it has four market participants that will cover initial margin requirements of 42%.A notice will be sent to market participants on Wednesday, the newspaper said, citing Hamish Treleaven, the chief risk officer at the ASX.That will allow the product to start trading on April 27. The Cosmos product invests in crypto through the Purpose Bitcoin ETF that listed on the Toronto Stock Exchange last November.There is speculation of a $1 billion capital inflow when the ETF goes live in Australia next week, the newspaper reported without saying where it got the information.Cosmos has two existing products, the Global Digital Miners Access ETF, which trades on Cboe Australia with net assets of $2.1 million, as well as the unlisted Bitcoin Wholesale Access Fund.ASX Clear’s approval for clearing the Cosmos Bitcoin ETF may pave the way for the National Stock Exchange of Australia to begin listing bitcoin ETFs.

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