Off the back of launching its first crypto-asset exchange-traded fund (ETF) earlier this week, BetaShares is now teasing the launch of two more crypto-flavored ETFs.
Pointing to the record-breaking listing of the company’s CRYP ETF, BetaShares CEO Alex Vynokur said the company is looking to capitalise on the considerable demand for exposure to the growing digital assets sector.
“Following the successful launch of CRYP, we are looking forward to building out a range of ETFs providing Australian investors a broad range of exposures to the digital assets ecosystem,” he said.
Specifically, Mr Vynokur said that the fund planned to launch ETFs which would provide investors with access to the spot prices of both bitcoin (1BTC) and Ethereum (1ETH).
“We are excited to lead efforts to provide Australian investors with a regulated, cost-effective, transparent and convenient access to the digital assets space,” he said.
No timeline was given for when BetaShares was looking to launch the 1BTC and 1ETH ETFs.
However, BetaShares CRYP ETF garnered a record-setting $39.7 million in trades over its first day on the Australian Stock Exchange.
The previous record of $8 million in first-day trades was surpassed by the fund within just 15 minutes of trading.
The BetaShares CRYP ETF does not include any crypto holdings in of itself, but it provides Australian investors with exposure to a number of global companies involved in the cryptocurrency space including Coinbase, Riot, MicroStrategy and Silvergate.
Despite this excitement, Mr Vynokur reminded potential investors to keep diversification in mind when considering these kinds of financial products.
“Investments in digital assets should be considered as part of a broadly diversified portfolio,” he said.
The successful launch of BetaShares CRYP ETF comes a week after ASIC issued new guidelines for crypto asset-linked securities in Australia.
These requirements include a commitment to compensate investors for losses incurred by poor custodianship practices and formal disclosures regarding the specific technological, financial and environmental risks involved with crypto assets.
“Crypto assets have unique characteristics and risks that must be considered by product issuers and market operators in meeting their existing regulatory obligations,” ASIC commissioner Cathie Armour said.
