{"id":9456,"date":"2022-05-12T14:38:07","date_gmt":"2022-05-12T14:38:07","guid":{"rendered":"http:\/\/ci02a0fd5390002506"},"modified":"2022-05-12T14:38:07","modified_gmt":"2022-05-12T14:38:07","slug":"australia-launches-bitcoin-etfs-as-market-crashes","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/australia-launches-bitcoin-etfs-as-market-crashes","title":{"rendered":"Bitcoin ETFs Launch In Australia As Market Goes Red"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><ul>\n<li>Australian bitcoin ETFs went live on Thursday.<\/li>\n<li>Both a spot bitcoin fund, the country\u2019s first, and a fund of funds launched on the Australian Cboe.<\/li>\n<li>The launch was a timid one amid a broader market sell-off.<\/li>\n<\/ul>\n<p>Two bitcoin exchange-traded funds (ETFs) started trading today on the Australian Cboe Global Markets Inc., one being a spot bitcoin ETF and the other investing in a spot bitcoin ETF overseas, according to a press release sent to <em>Bitcoin Magazine<\/em>. <\/p>\n<p>The <a href=\"https:\/\/bitcoinmagazine.com\/markets\/australias-first-spot-bitcoin-etf-to-launch-next-week\">21Shares Bitcoin ETF<\/a> (EBTC:AU) is a spot bitcoin ETF offered in partnership with ETF Securities. EBTC directly invests in bitcoin and stores it in cold storage on Coinbase. The <a href=\"https:\/\/bitcoinmagazine.com\/markets\/australias-first-bitcoin-etf-to-list-next-week-report\">Cosmos Purpose Bitcoin Access ETF<\/a> (CBTC:AU), on the other hand, invests in the Purpose Bitcoin ETF, the world\u2019s first physically-settled bitcoin ETF in North America. <\/p>\n<p>Both ETFs have launched as <a href=\"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-plunges-to-lowest-level-since-january-2021\">bitcoin continues to look for a new line of support<\/a> below $29,000 while the broader cryptocurrency market suffers. Having dipped below $28,000 overnight, investors looking to invest in these new funds will find a different valuation than would have been observed had the original release date not been <a href=\"https:\/\/bitcoinmagazine.com\/markets\/australian-bitcoin-spot-etf-launch-is-delayed\">pushed back<\/a> by the Cboe on April 27. <\/p>\n<p>\u201cThere are strong signs of capitulation in crypto this week, which often proceeds rebounds,\u201d Tony Sycamore, senior market analyst for City Index, told <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-05-12\/bitcoin-etfs-arrive-in-australia-just-as-the-crypto-market-tanks\" target=\"_blank\" rel=\"noopener\"><em>Bloomberg<\/em><\/a>. \u201cPresuming the recovery gains traction, it will help garner support for the newly listed ETF products along with the continuation of more widespread adoption.\u201d<\/p>\n<p>Purpose Bitcoin has amassed roughly $1.16 billion in assets since its 2021 launch and holds its bitcoin with cryptocurrency custodian Gemini, per the release. <\/p>\n<p>\u201cBy bringing CBTC to market on Cboe Australia, Cosmos is making Bitcoin accessible to investors in a secure and recognisable structure, all underpinned by the first physically settled Bitcoin ETF in the world,\u201d Cboe Australia CEO Vic Jokovic said in the release. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two new bitcoin ETFs launched today in Australia, a spot bitcoin fund directly acquiring bitcoin and a de-facto fund of funds.<\/p>\n","protected":false},"author":2785,"featured_media":9457,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[275,212,93,2324,878],"class_list":{"0":"post-9456","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-australia","9":"tag-bitcoin-etf","10":"tag-news","11":"tag-purpose-investments","12":"tag-spot-etf"},"author_data":{"id":2785,"name":"Shawn Amick","nicename":"shawn-amick","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/MjEwMTYzMzc3Njg5ODYzNjQ2-96x96.webp"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/cboe-files-with-sec-for-bitcoin-etf.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/9456","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2785"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=9456"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/9456\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/9457"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=9456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=9456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=9456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}