Australia may launch a physical cryptocurrency ETF

Australia is expected to launch physically-backed Bitcoin and Ethereum ETFs as early as the first quarter of next year. BetaShares (a provider of trading funds and other ASX trading funds in Australia) and Van Eck (an asset management company engaged in the issuance and management of ETFs and mutual funds) have both submitted applications for the issuance of physical-backed Bitcoin ETFs, while Australian Securities The Investment Committee has always supported the development of the cryptocurrency market. In October this year, Australia launched a number of cryptocurrency ETFs. Australia claims will be the gateway to the Asian cryptocurrency market.