Australia's first bitcoin ETF has been approved for launch next week

By    22 Apr,2022

On April 27th, the Bitcoin ETF will be available for trading.

On Wednesday, April 20, Treleaven will notify market participants that ASX Clear has received regulatory approval.


Brokers, clearing houses, clearing participants, market makers and investors will have seven days to prepare for the launch of the new product.


In other words, the Cosmos Asset Management Bitcoin ETF - the only Bitcoin ETF product currently listed on ASX Clear - will be allowed to start trading on Cboe on April 27, when the market when the market opens. When Australia's first bitcoin ETF hits the market next week, $1 billion in inflows are expected.

Opponents claim the delay in allowing AS X Clear's application to trade bitcoin ETFs is to protect the ASX trading venue from competition.


Notably, it's been two years since the Australian Securities and Investments Commission (ASIC) notified bitcoin financial promoters that listing retail bitcoin products was not allowed in Australia at the time.

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