Australia is set to enter the list of first countries to implement the spot Bitcoin ETF.
ASX Clear stated that at least four market participants will provide sufficient liquidity for the products and cover the settlement risks for a highly volatile and risky asset like Bitcoin. According to the chief risk officer at ASX, listing and opening for public trading are ready as they are in the minimum number of participants. Seven days after ASX Clear’s regulatory approval, market participants will be notified. During this period, various market participants will be prepared to trade, including the hard work of brokers, market makers and investors.
Cosmos Asset Management Bitcoin ETF is expected to be traded by the end of April. Cosmos’ product is not tied to the spot Bitcoin price and is actually a reflection of the first Bitcoin ETP, the Canadian-listed Purpose Bitcoin ETF.
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