Australian Securities Exchange May Launch First Crypto ETF This Year: Report

The ASX said it is “spending an enormous amount of time” on digital assets.

Apr 30, 2021 at 5:46 p.m. UTC

Updated Sep 14, 2021 at 12:49 p.m. UTC

Koala Australia Sydney — A koala in Sydney.

The Australian Securities Exchange (ASX) may launch a cryptocurrency exchange-traded fund (ETF) by the end of this year, according to a report by Business Insider Australia, which cited multiple people familiar with the situation.

A number of ETF applications are currently being assessed by the exchange, the report said,
The ASX wouldn’t confirm a potential ETF listing is in the works, but did say it is “spending an enormous amount of time” on digital assets, Business Insider said.
The ASX has acknowledged digital assets have become "too well-established" and “well known” for the exchange to ignore, the report said.
“You can see how mainstream this has become at an institutional level in developed markets, like the U.S., Canada, Europe and the UK. You can’t ignore that. We can’t ignore it, and we’re not,” ASX executive general manager Max Cunningham told the publication.
So far this year, Canada has listed four bitcoin ETFs and four ether ETFs on the Toronto Stock Exchange (TSX).

Read more about

Australia ASX ETFs CoinFlash

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.