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Following delays, three Australian crypto ETFs will launch on Thursday

After difficulties kept the financial products off the market for two weeks, Australia’s first cryptocurrency exchange-traded funds (ETFs) are due to go live on the country’s Cboe exchange on Thursday, May 12.

Three funds were scheduled to debut in late April, however the launch was postponed indefinitely due to last-minute brokerage issues.

ETFs provide investors with exposure to an underlying asset by tracking the price of that asset on a stock exchange.

ETFS Management (AUS) Ltd. and 21Shares AG, both based in Switzerland, are introducing two spot-traded ETFs: ETFS 21Shares Bitcoin ETF (EBTC) and ETFS 21Shares Ethereum ETF (EETH).

All assets for the two products will be kept in cold storage, and investors will be able to trade cryptocurrency ETFs.

Cosmos Purpose Bitcoin Access ETF (CBTC) by Cosmos Asset Management invests in Bitcoin through the Canadian Purpose Bitcoin ETF.

Bitcoin’s price has dropped nearly 20% since the ETFs were first offered, and it is currently trading at US$30,801 at press time.

Related Posts – This was a major factor in Bitcoin’s (BTC) drop to $35,000

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