Announcing date for first Bitcoin ETF trade in Australia ... Details here

As US regulators continue to reject requests for spot Bitcoin ETFs, press reports have emerged that Australia has followed the same path as Canada and will list its first Bitcoin ETF, to be traded on the exchange on stock trading platform Cboe early next week.

The report dated April 19 reports that Australia’s main capital market regulator ASX Clear has assembled four participants willing to meet the stringent requirements needed to cover the settlement risk of Bitcoin, which is known to be volatile.
Announcing date for first Bitcoin ETF trade in Australia

Hamish Trilleven, chief risk officer at the regulator, confirmed that ASX now has a minimum number of clearing participants, meaning things are going well.

The executive will notify market participants tomorrow of the agency's approval, which will give them seven days' notice to prepare for the new product.

Thus, the new ETF called “Cosmos Asset Management bitcoin ETF” will be able to start trading on the Cboe stock exchange on April 27.

According to the report, “ETF Cosmos” is a fund that invests in Bitcoin available for trading in Toronto, Canada.

As reported last year, Canadian authorities approved a few Bitcoin ETFs, including the one mentioned above.

Meanwhile, the US Securities and Exchange Commission continues to reject many applications each year, and has only allowed two Bitcoin futures ETFs.

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