(27 April 2022 – Australia) The debut of Australia’s first investment vehicles offering direct exposure to cryptocurrencies has been delayed due to a third party broker.
The postponement relates to a prime broker who has yet to approve the products due to a delay in appointing a market maker for the product's launch. The Cosmos Asset Management and ETF Securities funds were due to commence trading on April 27 however the undisclosed broker blocked the products from going live on the CBOE Australia exchange.
“As crypto ETFs are completely new to Australia and the infrastructure is being built from the ground up, a service provider downstream needs more time to support the launch. The issue affects all fund managers equally and has caught everyone by surprise” commented ETF Securities Head of Distribution, Kanish Chugh.
“Standard checks prior to the commencement of trading are still being completed” CBOE Australia said in a statement.