{"id":507761,"date":"2022-11-08T08:44:27","date_gmt":"2022-11-08T05:44:27","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/rivals-steadfast-even-as-two-aussie-crypto-etf-providers-bail\/"},"modified":"2022-11-08T08:44:27","modified_gmt":"2022-11-08T05:44:27","slug":"rivals-steadfast-even-as-two-aussie-crypto-etf-providers-bail","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/rivals-steadfast-even-as-two-aussie-crypto-etf-providers-bail\/","title":{"rendered":"# Rivals steadfast even as two Aussie crypto ETF providers bail"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a29255ba6d75\" 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-6a29255ba6d75\" 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\/rivals-steadfast-even-as-two-aussie-crypto-etf-providers-bail\/#%E2%80%9D_Rivals_steadfast_even_as_two_Aussie_crypto_ETF_providers_bail_%E2%80%9C\" >&#8221; Rivals steadfast even as two Aussie crypto ETF providers bail &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Rivals_steadfast_even_as_two_Aussie_crypto_ETF_providers_bail_%E2%80%9C\"><\/span>&#8221; Rivals steadfast even as two Aussie crypto ETF providers bail &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMGI2ZmU5ZDctY2U1Yy00OTJjLThkNzktYWQ0M2M1MWVkNjYxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4b69a2fe>Two digital asset exchange-traded fund (ETF) issuers in Australia are set to leave the market amid heightened regulator scrutiny and a deepened crypto winter, though some remain bullish about the market&#8217;s prospects.<\/p>\n<p>In the last week, Australian crypto ETF providers including Holon Investments and Cosmos Asset Management have indicated they may be stepping back from the crypto ETF scene.<\/p>\n<p>On Nov. 6, Holon said it might close its three retail crypto funds following a hardline stance from the Australian financial regulator which has accused the fund of failing to &#8220;describe the risks to investors in its target market determination filings,&#8221;\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.afr.com\/technology\/holon-may-close-retail-crypto-funds-after-surprise-asic-whack-20221104-p5bvj1\">ac<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.afr.com\/technology\/holon-may-close-retail-crypto-funds-after-surprise-asic-whack-20221104-p5bvj1\">cording<\/a> to a report from the Australian Financial Review (AFR).<\/p>\n<p>It comes after the Australian Securities and Investments Commission (ASIC) issued an interim stop order on Oct. 17 directed at Holon&#8217;s three funds due to non-compliant target market determinations (TMDs). <\/p>\n<p>The AFR report notes that Holon has argued that the crypto funds were designed to be part of a diversified portfolio, not the majority of an investment strategy, though it may have fallen on deaf ears.\u00a0<\/p>\n<p>Another crypto ETF issuer Cosmos is also jumping ship with last week\u2019s announcement that it would de-list its crypto ETFs from the Cboe Australia exchange. <\/p>\n<p>According to the report, sources stated that Cosmos failed to attract sufficient assets under management to remain viable. It also had heavy overheads in crypto custody and professional indemnity insurance costs.<\/p>\n<p>According to public disclosures in September, Cosmos had around $1.6 million in AUM for its combined BTC and ETH funds.<\/p>\n<p><strong><em>Related:<\/em><\/strong><strong><em> <\/em><\/strong><strong><em>Three crypto ETFs to be delisted in Australia as crypto winter continues<\/em><\/strong><\/p>\n<p>However, some crypto ETF providers <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>ear to remain committed to the market, which is expected to see one million new crypto adopters over the next 12 months, according to a recent survey from crypto exchange Swyftx.\u00a0<\/p>\n<p>Providers currently involved in the Australian crypto ETF market include 3iQ Digital Asset Management, Monochrome Asset Management, and Global X Australia, formerly known as ETF Securities.\u00a0<\/p>\n<p>Global X Australia chief executive Evan Metcalf <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.afr.com\/companies\/financial-services\/global-x-commits-to-crypto-etfs-as-rivals-exit-20221107-p5bw7n\">told<\/a> the AFR that the firm continues to have a\u00a0\u201cstrong conviction in digital assets and has no plans to close any crypto ETPs,&#8221; noting:\u00a0<\/p>\n<blockquote><p>\u201cWe are very bullish on the crypto markets in <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>, digital assets, and decentralized finance \u2013 we see enormous potential there.\u201d<\/p><\/blockquote>\n<p>Metcalf did however note that the funds had experienced a &#8220;relatively quiet&#8221; reception from investors amid the current market downturn, while there was an &#8220;unwillingness&#8221; from local stockbrokers to provide clients access to its funds.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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\/rivals-steadfast-even-as-two-aussie-crypto-etf-providers-bail\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Rivals steadfast even as two Aussie crypto ETF providers bail &#8220; Two digital asset exchange-traded fund (ETF) issuers in Australia are set to leave the market amid heightened regulator scrutiny and a deepened crypto winter, though some remain bullish about the market&#8217;s prospects. In the last week, Australian crypto ETF providers including Holon Investments&#8230;<\/p>\n","protected":false},"author":1,"featured_media":507762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMGI2ZmU5ZDctY2U1Yy00OTJjLThkNzktYWQ0M2M1MWVkNjYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75849,74355,20358,70934],"class_list":["post-507761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-etf","tag-adoption","tag-australia","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507761","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=507761"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/507761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/507762"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=507761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=507761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=507761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}