21Shares has partnered with exchange-traded fund provider ETF Securities to introduce Australia’s first spot bitcoin ETF.
According to Bitcoin Magazine, the 21Shares Bitcoin ETF is set to go live on Australia’s Cboe trading platform.
The publication noted that 21Shares’ fund will be the first offering to invest directly into the underlying asset. 21Shares remarked that EBTC will hold actual BTC on cold storage custody by Coinbase to track the price of Bitcoin in Australian dollars.
21Shares CEO and co-founder Hany Rashwan said that the company’s team is ‘incredibly excited’ to be the first to offer a spot bitcoin ETF in Australia.
He added, “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.”
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