CryptocurrencyAustralia’s First Spot Bitcoin ETF To Launch Next Week

Australia’s First Spot Bitcoin ETF To Launch Next Week

Cryptocurrency-focused company 21Shares has teamed up with leading exchange-traded fund (ETF) provider ETF Securities to launch Australia’s first spot bitcoin ETF, the firm said in a statement Tuesday.

The 21Shares Bitcoin ETF (EBTC) is set to go live on the country’s Cboe trading platform, formerly Chi-X, on April 27. 21Shares’ product joins a similar fund from Cosmos Asset Management that will start trading on the same day.

Cosmos’ product became the first bitcoin ETF to receive the green light for launching in Australia yesterday as the manager agreed to the country’s main clearing house requirements for 42% of margin for such a product.

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