Delayed crypto ETFs expected to launch on Cboe Australia this Thursday

  • Cboe Australia said that the downstream issues that had caused the delay have been resolved
  • EFT Securities, in collaboration with 21Shares, will launch a Bitcoin and ETH spot ETF
  • Cosmos Asset Management will debut a Bitcoin ETF

Late last month, it was expected that Australia would debut three crypto exchange-traded funds (ETFs) that were set for listing on Cboe Global Market’s Cboe Australia. 

Two of the three ETFs were a Bitcoin and Ether spot ETF by 21Shares (in collaboration with ETF Securities), and the third was a Bitcoin EFT offered by Cosmos Asset Management. However, cutting it late, near the day of launch set for April 27, the Cboe exchange announced that the three ETFs had been delayed.

Back on this Thursday

Cboe Australia has now provided an update and says the three ETPs will launch on Thursday this week. Following a two-week holdup, the Cboe exchange confirmed via a series of circulars sent yesterday that the ETFS 21Shares Bitcoin ETF, ETFS 21Shares Ethereum ETF, and the Cosmos Purpose Bitcoin Access ETF are debuting on May 12.

With the ETFs back on, 21Shares and Cosmos have calmed concerns as the delay had allowed Toronto-based 3iQ Digital Asset Management to slip into the race to launch first. The firm ‘quietly’ filed with the Australian Securities and Investments Commission on April 28 with plans to list the 3iQ CoinShares Bitcoin Feeder ETF and 3iQ CoinShares Ether Feeder ETF on Cboe Australia. 

3iQ aimed to outpace 21Shares and Cosmos in offering the crypto products, meaning the delayed ETFs couldn’t have come sooner. 

In a statement to The Australia Financial Review, ETF Securities claimed to have won a “multi-year contest among ETF providers to launch the first ETFs in Australia directly tracking Bitcoin and Ether. ETF Securities defined it as a win as Cosmos’, and 3iQ’s products are effectively feeders to offshore ETFs. 

“By bringing cryptocurrency into an ETF, investors can trade and own it in a tightly regulated environment with government oversight,” the statement read.

However, Cosmos also claimed winner status, with CEO Dan Annan lauding the victory to launch Australia’s first Bitcoin EFT.

“Cosmos Asset Management is pleased that exchange Cboe has announced that trading for Australia’s first bitcoin spot ETF will begin Thursday. We are excited to be able to bring this much-anticipated bitcoin ETF to the Australian market.

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