Crypto Currency ETFs and its increasing Popularity.
Crypto Currencies are the digital currencies that function in a decentralized manner. Since the historic tweet of Mr. Elon Musk about bitcoins, crypto currency emerged as a new revolutionary. There has only been a way upwards for the crypto market. The popularity of Crypto Currencies is increasing every single day. Crypto Currencies ETFs are providing a huge number of benefits to its investors. Some commonly accrued benefits are low-cost money transfers, non-complicated private transactions and the list goes on.
Australia is the new entrant in the global Crypto Currency ETFs. Follow the tweet below!
Australia’s first cryptocurrency ETFs are expected to list on Thursday after “downstream issues are resolved” https://t.co/Kk1s9w5NdL
— Bloomberg Australia (@BloombergAU) May 9, 2022
On 12th May, 2022, Australia is set to list the country’s first three crypto currency Exchange Traded Funds. CBOE exchange network will be organization that will be dealing the ETFS. The responsibility of managing the ETFs and making sure of no mal practices is given to Cosmos Asset Management and ETF Securities. The three freshly made ETFs are based on Bitcoins and Ethereum.
The Names of the EFT’s are as follows:
- Cosmos Purpose Bitcoin Access ETF.
- ETFs 21shares Bitcoin ETF.
- ETFs 21shares ETF.
What are ETFs and how do they help investors? Let’s see!
An ETF is an Exchange Traded Fund. ETFs are traded in exchanges. When traders invests in an ETF, they get a pack of assets. These assets are also open for the trade i.e., they can either be bought or be sold during the stipulated market hours. From a long term investor’s point of view, ETFs are considered safer in comparison to stocks for its ability to offer a broad portfolio diversification.
Crypto Currency ETFs make way into Canada and Switzerland.
Crypto ETF race in Australia led by Canada’s 3iQ Digital Asset Management ahead of ETF Securities and Cosmos Asset Management – The Australian Financial Review https://t.co/wU5pMUkZ1k
— Stockexamen – RIT@Work – AKA (MoneyBags) (@stockexamen) May 1, 2022
Since there was a delay made by the Australian company in listing ETFs, Canadian company took advantage of the situation and offered two of their own ETFs to the Australian Public. Canada and Switzerland have been observing the crypto market very keenly and have made a good attempt of capturing the Australian market as soon as an opportunity appeared. Will the Canadian Company reap high returns based on its decision, only time can tell.
Struggle of US!
As Crypto currencies ETFs are gaining popularity and are being used more in the world, US is struggling to accept physically backed Bitcoin ETFs. In its attempt to make things better, Joe Biden president of USA signed a new crypto bill which may act as a catalyst that will cause the upward trend in the crypto market.
