Australia may launch a physical cryptocurrency ETF

According to reports, Australia is expected to launch physically-backed Bitcoin and Ethereum ETFs as early as the first quarter of next year. BetaShares (a provider of trading funds and other ASX trading funds in Australia) and Van Eck (an asset management company engaged in the issuance and management of ETFs and mutual funds) have submitted applications for the issuance of physical-backed Bitcoin ETFs. In contrast, Australian Securities The Investment Committee has always supported the development of the cryptocurrency market. In October this year, Australia launched several cryptocurrency ETFs. As a result, Australia claims to be the gateway to the Asian cryptocurrency market.