(Financial Review) Australian Securities Exchange has approved the first Bitcoin exchange-traded fund by Cosmos Asset Management.
The new product is expected to start trading on the Cboe on April 27, pointing to the country’s relaxed tone on digital assets.
The approval, which is set to be announced on Wednesday, comes after the participants agreed to the stringent 42% margin requirements by ASX. ASX chief risk officer Hamish Treleaven said that the regulator is good to go with the bitcoin ETF after the threshold was met.
Already, investors are reportedly lining up about $1 billion of inflows into the Bitcoin ETF when it lists.
The listing of the Cosmos bitcoin ETF is now expected to reignite other similar products in Australia from entities that include VanEck Australia, BetaShares, ETF Securities, and Monochrome Asset Management.
BTCUSD is up +0.48%
