Cosmos launches Ethereum ETF in Australia

The Australian digital asset manager Cosmos Asset Management has teamed up with Canada's puras purple investments to create an exchange-traded Ethereum fund for Australian investors.

The new Cosmos purple Ethereum Access ETF, which was noted at CBOE Australia, invests directly in the Purpose Ether ETF listed in Toronto. The Canadian ETF holds more physically processed ether token than derivatives and is supported by the cryptocurrency depotbank Gemini.

The Vehikel, which was listed in Toronto, has accumulated assets of over 570 million Aud ($ 408 million) since its foundation in April last year.

Dan Annan, Chief Executive by Cosmos AM, said the new ETF "It is easier for the Australians to include Ethereum in their portfolio by the need for Ethereum wallets and cold storage, which are often the limited factor for those who are interested in investments in cryptocurrencies".

Vic Jokovic, head of CBOE Australia, said: "Since investors continue to look for cryptocurrencies, it is important that the market offers you selection and access." He added that the new ETF Australian investors "gave" unique access to the world's first physically processed ether Ether.

The market launch takes place shortly after Cosmos listed on its Cosmos purple Bitcoin Access ETF (CBTC) on May 12th together with Purpose Investments to CBOE Australia. Last year, Cosmos also started the trading of his Cosmos Global Digital Miners Access ETF on the stock exchange.

ETF Securities and 21shares from Switzerland performed the ETFS 21Shares Ethereum ETF (Eeth) and the ETFS 21shares Bitcoin ETF (EBTC) on May 12th, on the same day when Cosmos am his Bitcoin-Vehikel.

Australia's first three crypto ETFs began after a two-week delay with the trade, after an unsuccessful third-party provider reported on the last minute.

The market launches fell together with a large crash of cryptocurrencies.

*Ignites Asia is a intelligence service published by FT Specialist for experts who work in the asset management industry. It covers everything, from the introduction of new products to regulations and industry trends. Test versions and subscriptions are available at Ignitesasia.com .