Another two crypto ETFs launch in Australia

This brings the total number of crypto ETFs in Australia available to investors to six

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3iQ Digital Asset Management has launched two new crypto-backed ETFs in Australia – Photo: Getty Images
                                

Canada's largest digital investment fund manager, 3iQ Digital Asset Management, has launched two crypto-backed exchange-traded funds (ETFs) in Australia.

The two ETFs, the 3iQ CoinShares Bitcoin Feeder ETF (BT3Q) and the 3iQ CoinShares Ether Feeder ETF (ET3Q) are domiciled and available in Australia.

Listed on the Chicago Board Options Exchange (Cboe) Australia, the two ETFs “aim to provide investors with exposure to bitcoin and ethereum”.

Units of both ETFs are available to buy in Australian dollars and have the lowest fee structure available in Australia according to 3iQ, with a total management expense ratio of 1.20%.

This brings the total amount of crypto ETFs in Australia available to investors to six.

Feeder funds

The Australian 3iQ ETFs will act as feeder funds and give investors access to the Canadian 3iQ CoinShares Bitcoin ETF and the 3iQ CoinShares Ether ETF, which are known as the Underlying ETFs, domiciled in Canada and listed on the Toronto Stock Exchange.

The Underlying ETFs invest in long-term holdings of bitcoin and ethereum. This, states 3iQ, means an “investment in the 3iQ Australian ETFs eliminates the need for investors to set up digital asset wallets in order to obtain exposure to bitcoin and ether and provides them with an institutional quality custodian solution to oversee cyrpto security protocols.”

‘Safer alternative to investment in crypto’

Fred Pye, CEO of 3iQ, said: “We are delighted to launch the 3iQ CoinShares Bitcoin Feeder ETF and the 3iQ CoinShares Ether Feeder ETF on the Cboe today. Our ETFs gives retail and institutional investors regulated access to the digital asset market, providing a safer alternative to a direct investment in cryptocurrencies.

“We are one of the oldest and largest digital asset managers in the world and we now manage over AUD$1.8bn in crypto assets. Our experience and knowledge in the space provides investors with unparalleled crypto investment solutions.”

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