The launch of Australia’s first three Bitcoin and Ether exchange-traded funds, scheduled for Wednesday, has been delayed due to further “checks” needing to be completed.
It’s unclear why the products are delayed with the Australian Financial Review
, North America’s first Bitcoin exchange-traded fund. The funds issued by 21Shares are backed by Bitcoin and Ether reserves held in cold storage by Coinbase. “You would think an ETF which invests in another ETF would be easier to handle, but the broker will just be ensuring they have all their ducks lined up before they go live.”
“While this isn't an ideal start for the ETF’s, it will be looked at as only a minor speed bump in an otherwise successful result for the crypto asset industry in Australia.”
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