Aussies may choose this ETF as their first entry into the crypto world.
๐ Background: To jog your memory, exchange traded funds (aka ETFs) are funds with exposure to many different stocks.
๐ What happened: Last year, Aussie ETF provider BetaShares got the all clear to launch a crypto ETF. It had investments in crypto-related companies, but no exposure to actual crypto itself.
๐ What else: Cosmos Asset Management is changing the game. They're giving local investors access to a Toronto-listed Bitcoin ETF with around $1.3 billion in assets. The launch party is next week, pending regulatory approvals ๐ฅณ.
๐ก This may well be the first real test of demand for cryptocurrency ETFs in Australia.
๐ก ETFs are known for being less risky than investing in individual stocks. Because of this (and the fact they tend to be cheaper), they make a pretty attractive investment opportunity.
๐ก Aussies that have been keen to invest in bitcoin, but have been scared because of the risks involved, might finally enter the market via the new ETF.
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