ETF Securities, one of the leading ETF providers, announced yesterday that it has partnered with 21Shares for the launch of Bitcoin and Ethereum exchange-traded funds (ETFs) in Australia. The details provided by the companies mentioned that ETFS 21Shares Bitcoin ETF is the first Australian ETF to invest directly in Bitcoin.
Similarly, ETFS 21Shares Ethereum ETF is the first to invest directly in ETH. The mentioned funds are expected to go live on 27 April 2022. With more than $2.5 billion worth of assets under management (AUM), 21Shares is one of the most valuable companies in the crypto ecosystem. The firm has expanded its offerings significantly in the past few months amid a rise in demand for innovative crypto trading products.
According to 21Shares, it is now offering more than 130 listings with over 30 products. The company’s products are listed on prominent European and Swiss trading exchanges. The newly introduced funds will list on CBOE Exchange (formerly Chi-X).
"We're so incredibly excited to be able to offer the first direct exposure Bitcoin and Ethereum ETF in Australia. Australian investors clearly want and deserve an affordable, easy and professional way to access the growing crypto asset class, and we're delighted to continue building accessible bridges into the crypto world. We're starting with Bitcoin and Ethereum but have even more exciting plans for Australian investors,” Hany Rashwan, the CEO and Co-Founder of 21Shares, commented.
In June 2021, 21Shares announced the launch of a Bitcoin ETP on Aquis Exchange.
Bitcoin and Ethereum
Amid the growing popularity of digital currencies, the global demand for Bitcoin and Ethereum ETPs has increased.
Commenting on the performance of BTC and ETH, Kanish Chugh, the Head of Distribution at ETF Securities, said: “They may be used as alpha tilts or side bets in a portfolio. They can also be bought as portfolio diversifiers, as they are completely different assets and uncorrelated to shares, bonds and commodities."
