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Australian Securities Exchange Ready To Launch crypto-related ETF

Australian Securities Exchange is close to launching its first ETF. More so, this will put pressure on the U.S. SEC Body. Additionally, Australian Securities Exchange will be launching “BetaShares Crypto Innovators ETF,”. Which of course, will bring exposure to global companies working in the digital asset space. This is according to information from the Financial Review.

Possible Australian Securities Exchange Launch Details

Furthermore, Using the ticker “CRYP,” the ETF targets to monitor the Bitwise Crypto Industry Innovators Index. Also, this will support another ETF on the New York Stock Exchange.
More so, The companies include top international exchanges like Coinbase, mining company Riot Blockchain and MicroStrategy.
Yes, MicroStrategy is is the public company with the largest Bitcoin holding in the world, amounting to over 110,000 BTC.

Meanwhile, BetaShares chief executive Alex Vynokur explains the process to the Financial Review. Noting it was very lengthy to get one from Australian Securities Exchange.

“But the genuine investor demand is growing and it makes sense for us to offer them…”
“exposure to the most important development since the launch of the internet,”
he said.

Additionally, Vynokur says the is targeting to release a crypto-backed ETF. However, believes approval is still far while noting the country currently(Australian Securities Exchange) lacks proper regulatory structure to to allow it.

Currently, Australia is doing a Senate inquiry into developing the country’s regulatory approach to cryptocurrency. Furthermore, public submissions was closed in June but continued holding hearings on the matter. Also, Its in expectations for it to hand down its third and final report at the end of October.

U.S. Securities and Exchange Commission gives an approval for a similar product called the “Volt Bitcoin Revolution ETF,”. Of course, this brings exposure to companies with significant holdings in Bitcoin. For example, Tesla or PayPal. On the other hand, neighboring Canada is giving out several Bitcoin ETFs approval and also Ethereum ETFs this year.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.