Cosmos Asset Management’s Bitcoin ETF will be listed on the Cboe Equities Trading Venue next week on the 27th of April, Australian Financial Review (AFR) reported. This marks the first Bitcoin ETF to be released from Australia.
- ASX Clear (the clearing house for Australian capital markets) has 4 market participants willing to stump the tough 42% margins needed to cover settlement risks.
- A notice period of 7 days has been issued. The ASX Clears regulatory approval period gives brokers and investors time to prepare for the new listing.
- The Cosmos fund will invest in Bitcoin through the Purpose Bitcoin ETF, listed in November on the Toronto Stock Exchange.
- The AFR reports that there is speculation of over $1B flowing into the ETF.
- The approval of a Bitcoin ETF by ASX Clear could mean other trading venues like the National Stock Exchange begin listing Bitcoin ETFs.