Digital asset investment fund manager 3iQ has announced the launch of a Bitcoin and Ethereum feeder exchange-traded fund (ETF) in Australia, allowing investors to gain exposure to both cryptocurrencies.
Both ETFs launched on the Cboe Australia exchange on June 6. Investors will be able to buy units of both ETFs directly with Australian dollars at the lowest fees available in the country. The total management expense ratio is 1.20 percent.
The ETFs feed from the firmās Canadian-based underlying ETFs listed on the Toronto Stock Exchange (TSX): the 3iQ CoinShares Bitcoin ETF and iQ CoinShares Ether ETF.
We are delighted to launch the 3iQ CoinShares Bitcoin Feeder ETF and the 3iQ CoinShares Ether Feeder ETF on the Cboe today. Our ETFs give retail and institutional investors regulated access to the digital asset market, providing a safer alternative to a direct investment in cryptocurrencies.
Fred Pye, chairman and CEO, 3iQ
Australia Officially Has 3 BTC ETFs
While the US Securities and Exchange Commission is rejecting crypto ETF applications left and right, Australia officially has three Bitcoin ETFs:
The news comes after Crypto News Australia reported a month ago that the first Australian BTC and ETH ETFs, also listed on Cboe Australia, had gone live.
However, the launch of the ETFs didnāt go as expected as on their first day of trade, none of the funds was able to reach A$1 million in trading volume.
Disclaimer:
The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.
Credit: Source link
