{"id":437990,"date":"2022-04-27T05:06:38","date_gmt":"2022-04-27T02:06:38","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/failure-to-launch-australias-first-3-crypto-etfs-all-miss-launch-day\/"},"modified":"2022-04-27T05:06:38","modified_gmt":"2022-04-27T02:06:38","slug":"failure-to-launch-australias-first-3-crypto-etfs-all-miss-launch-day","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/failure-to-launch-australias-first-3-crypto-etfs-all-miss-launch-day\/","title":{"rendered":"# Failure to launch: Australia\u2019s first 3 crypto ETFs all miss launch day"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34d480f2ce7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34d480f2ce7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/failure-to-launch-australias-first-3-crypto-etfs-all-miss-launch-day\/#%E2%80%9D_Failure_to_launch_Australias_first_3_crypto_ETFs_all_miss_launch_day_%E2%80%9C\" >&#8221; Failure to launch: Australia\u2019s first 3 crypto ETFs all miss launch day &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Failure_to_launch_Australias_first_3_crypto_ETFs_all_miss_launch_day_%E2%80%9C\"><\/span>&#8221; Failure to launch: Australia\u2019s first 3 crypto ETFs all miss launch day &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTY3YTMwOWYtNmQwZS00ZDlhLWIwZmUtYjI5ZDhiMDRhN2EyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The launch of Australia\u2019s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further \u201cchecks\u201d needing to be completed.<\/p>\n<p>The exchange listing the Bitcoin Spot ETF from Cosmos Asset Management, Cboe Australia, released a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cboe.com.au\/wp-content\/uploads\/2022\/04\/Cboe-Funds-Market-Circular-22006ETF.pdf\">statement<\/a> late Tuesday stating that \u201cstandard checks prior to the commencement of trading are still being completed\u201d and a \u201cfurther update will be provided in the coming days.\u201d<\/p>\n<p>Cboe issued the same <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cboe.com.au\/wp-content\/uploads\/2022\/04\/Cboe-Funds-Market-Circular-22005ETF.pdf\">notice<\/a> regarding two spot ETFs issued by 21Shares also scheduled for launch today, a Bitcoin ETF and an Ethereum ETF.<\/p>\n<p>It\u2019s unclear why the products are delayed with the Australian Financial Review <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.afr.com\/companies\/financial-services\/failure-to-launch-crypto-etfs-hit-listing-snag-20220426-p5ag4s\">reporting<\/a> that a \u201cservice provider downstream\u201d \u2014 an entity such as a prime broker or major institution with the power to delay listings until it&#8217;s ready to support the trade of the products \u2014 could be to blame for the hold up.<\/p>\n<p>The underlying asset for the Cosmos ETF is a direct investment into the Canadian Purpose Bitcoin ETF, North America\u2019s first Bitcoin exchange-traded fund. The funds issued by 21Shares are backed by Bitcoin and Ethereum reserves held in cold storage by Coinbase.<\/p>\n<p>Toby Ch<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>le, Head of Trading at Australian wealth management firm Zerocap, told Cointelegraph the delay was \u201cnot a big deal.\u201d Referring to the Cosmos Bitcoin ETF he added:<\/p>\n<blockquote><p>\u201cYou would think an ETF which invests in another ETF would be easier to handle, but the broker will just be ensuring they have all their ducks lined up before they go live.\u201d<\/p><\/blockquote>\n<p>Cici Lu, Managing Partner at crypto asset investment and wealth management firm Apollo Capital also said that it seemed like just a small bump in a long road for the funds:<\/p>\n<blockquote><p>\u201cWhile this isn&#8217;t an ideal start for the ETF&#8217;s, it will be looked at as only a minor speed bump in an otherwise successful result for the crypto asset industry in Australia.\u201d<\/p><\/blockquote>\n<p>He added: \u201cThe traditional finance sector is trying to get its head around how to adapt their businesses to a new asset class, it is a journey both crypto  and TradFi are on together. \u201d<\/p>\n<p>Cointelegraph contacted Cboe Australia, Cosmos and 21Shares for more information regarding the delays but did not im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely hear back.<\/p>\n<p>Cosmos Asset Management\u2019s \u201cCosmos Purpose Bitcoin Access ETF\u201d received approval from the Australian Securities Exchange (ASX) on April 19 to begin trading following a seven-day notice period and was expected to attract around $1 billion after its launch.<\/p>\n<p>The two ETFs issued by 21Shares received approval around the same time, aligning all three funds with the same launch date.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Australian prudential regulator releases roadmap for cryptocurrency policy<\/em><\/strong><\/p>\n<p>21Shares isn\u2019t a stranger to hold ups with its crypto ETF products Earlier in April the United Stated Securities and Exchange Commission (SEC) rejected its Bitcoin ETF which was to list on the US Cboe BZX Exchange saying the exchange didn\u2019t meet requirements for listing a financial product.<\/p>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/failure-to-launch-australia-s-first-3-crypto-etfs-all-miss-launch-day\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Failure to launch: Australia\u2019s first 3 crypto ETFs all miss launch day &#8220; The launch of Australia\u2019s first three Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETF) scheduled for today, has been delayed as a result of further \u201cchecks\u201d needing to be completed. The exchange listing the Bitcoin Spot ETF from Cosmos Asset Management,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":437991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvMTY3YTMwOWYtNmQwZS00ZDlhLWIwZmUtYjI5ZDhiMDRhN2EyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[123497,88725,95832,120470,75849,75917,20358,117,73785,70359],"class_list":["post-437990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-asset-backed","tag-assets","tag-cboe","tag-digital-asset-holdings","tag-etf","tag-exchanges","tag-australia","tag-business","tag-markets","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=437990"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/437990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/437991"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=437990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=437990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=437990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}