21Shares and ETF Securities to Launch Bitcoin and Ethereum Spot ETFs in Australia - BitcoinEthereumNews.com
The Switzerland-based investment product issuer – 21Shares – joined forces with ETF Securities to launch the first two exchange-traded funds in Australia that will provide customers with direct access to cryptocurrencies. Those products will track the performance of BTC, and ETH will go live on April 27. Crypto EFTs Popping out in Australia While the American financial regulators keep rejecting cryptocurrency spot ETF applications by major firms, such products started emerging in other countries. The Canadian watchdogs हरा भरा the nations first Bitcoin exchange-traded fund last February, while the Brazilian authorities did the same a few months later. हाल ही में एक के अनुसार प्रेस विज्ञप्ति, Australia will also put its name on that list by approving two such products. The initiative will see the light of day at the end of April after a collaboration between 21Shares and ETF Securities. Dubbed ETFS 21Shares Bitcoin ETF (EBTC) and ETFS 21Shares Ethereum ETF (EETH), the funds will track the price of respectively BTC and ETH in Australian dollars. The products will be fully backed by their underlying assets and held in cold storage by Coinbase. Graham Tuckwell – Executive Chairman of ETF Securities – explained that the funds will enable investors to trade cryptocurrencies without creating