21Shares and ETF Securities Will Launch Bitcoin and Ethereum Spot ETFs 

After the cooperation between 21Shares and ETF securities, EBTC and EETH will appear as the first ETF in Australia that can have direct access to cryptocurrency. 21Shares, a Swiss based investment product publisher, teamed up with ETF securities to launch the first two exchange traded funds in Australia to provide customers with direct access to cryptocurrencies. These products will track the performance of BTC, and eth will go online on April 27.

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Cryptocurrency EFT Suddenly Appeared in Australia

Although U.S. financial regulators continue to reject applications for cryptocurrency spot ETF from large companies, such products are beginning to appear in other countries. In February last year, Canadian regulators gave the green light to the country’s first Bitcoin exchange traded fund, and the Brazilian authorities did the same a few months later.

According to a recent press release, Australia will also put its name on the list by approving two such products. With the cooperation of 21Shares and ETF securities, this measure will see the dawn at the end of April.

Known as ETFs 21Shares Bitcoin ETF (EBTC) and ETFs 21Shares Ethereum ETF (EETH), these funds will track the prices of BTC and eth in Australian dollars, respectively. These products will be fully supported by their underlying assets and held by coinbase cold storage.

Graham Tuckwell, executive chairman of ETF securities, explained that these funds will enable investors to trade cryptocurrencies without creating their own Bitcoin or Ethereum wallets and storing their assets.

Also talking about this issue is the CEO and co-founder of Hany rashwan — 21Shares. He said the team behind his company was “incredibly excited” to be able to provide the first batch of ETFs with direct contact with Bitcoin and Ethereum in Australia. In addition, he hinted that 21Shares might provide similar funds and other underlying assets in the future.

As cryptopotato reported earlier this week, Australia has jumped into the ranks of cryptocurrency ETF and launched cosmos asset management Bitcoin ETF, which will also start trading on April 27. However, unlike EBTC and EETH, it is launched as a “fund in the fund” because it invests in Bitcoin ETF, which can be traded in Toronto, Canada.

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Cryptocurrency is Booming in Australia

It can be said that blockchain technology and cryptocurrency have been booming in Australia since the beginning of 2022. In February, safewealth, an Australian brokerage platform, began to provide digital asset trading services to domestic customers. It also integrates educational tools for investors who have just entered the cryptocurrency world.

Nearly a month later, FTX, the leading trading venue, established an Australian branch called FTX Australia Pty Ltd. The latter now provides OTC cryptocurrency products and services, as well as derivatives.

Meanwhile, the country’s largest bank, the Commonwealth Bank of Australia, revealed its intention to provide customers with more digital asset opportunities. The agency also disclosed that it seeks to double the size of its blockchain team in the coming months.