Crypto ETF breaks ASX records
BetaShares Crypto Innovators exchange traded fund (ETF) traded almost $40 million in its first day of trading in the Australian Securities Exchange (ASX), setting a record.
The ETF set a new first day record for trading value, beating the previous record of $8 million set in March, with trades of $39.7 million.
The fund provided exposure to a portfolio of global companies at the forefront of the crypto economy including pure-play crypto companies and diversified companies with crypto-focused business lines.
Alex Vynokur, BetaShares chief executive, said: “Investor demand for exposure to the digital assets theme is considerable as evidenced by the record investor interest in the BetaShares Crypto Innovators ETF.
“We are excited to lead efforts to provide Australian investors with a regulated, cost effective, transparent and convenient access to the digital assets space.
“However, we would also like to stress the importance of diversification and as such, investments in digital assets should be considered as part of a broadly diversified portfolio.”
In light of the record demand and following a recent report from the Australian Securities and Investments Commission (ASIC), the firm was also planning to two dedicated spot-based ETF investing in Bitcoin and Ethereum.
These would offer investors access to cryptocurrency in a “familiar, transparent and investor-friendly way”.
“We are looking forward to building out a range of ETFs providing Australian investors a broad range of exposures to the digital assets ecosystem, including the expected launch of the 1BTC and 1ETH ETFs, which will provide access to the performance of the spot prices of Bitcoin and Ethereum,” Vynokur said.
AUTHOR
Laura Dew
Recommended for you
The alternative investment manager has signalled its intentions to repackage an existing fund into a second private equity vehicle, targeting both listed and unlisted opportunities.
The acquisition of Mason Stevens by Adamantem Capital has reached completion, as the wealth platform looks to increase investment into its services for Australian wealth practices.
Platinum Asset Management and VanEck have both announced name changes to multiple of their ETFs to clarify their complexity.
Active ETFs are gaining traction in Asia-Pacific as wealth managers seek to blend the low-cost fees of passive with active management.
