An ETF is a financial product that enables investors to track the price of Bitcoin without owning any coins.
The Cosmos Bitcoin ETF provides indirect exposure to Bitcoin investments made using the Canadian Purpose Bitcoin ETF.
The Betashares CRYP fund that invests in US shares was launched in November last year, and it garnered $10M in net inflows in just ten minutes.
Grumelart said that the launch of this ETF would result in more players joining the sector, similarly to what has happened in other countries where crypto ETFs have been approved.
The Australian Securities and Investments Commission is seeking authority over the sector, but according to Senator Andrew Bragg, such authority was inappropriate.
The growth is evidenced by the large investments expected to flow into the country’s first Bitcoin ETF.