Australian Securities Exchange May Launch First Crypto ETF This Year: Report

Saturday 01 May 2021, 5:08 AM AEST - 1 month ago

The Australian Securities Exchange (ASX) may launch a cryptocurrency exchange-traded fund (ETF) by the end of this year, according to a report by Business Insider Australia, which cited multiple people familiar with the situation.

  • A number of ETF applications are currently being assessed by the exchange, the report said,
  • The ASX wouldnt confirm a potential ETF listing is in the works, but did say it is spending an enormous amount of time on digital assets, Business Insider said.
  • The ASX has acknowledged digital assets have become "too well-established" and well known for the exchange to ignore, the report said.
  • You can see how mainstream this has become at an institutional level in developed markets, like the U.S., Canada, Europe and the UK. You cant ignore that. We cant ignore it, and were not, ASX executive general manager Max Cunningham told the publication.
  • So far this year, Canada has listed four bitcoin ETFs and four ether ETFs on the Toronto Stock Exchange (TSX).

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