Prolly nothing... https://www.coindesk.com/business/2...st-bitcoin-etf-to-be-listed-next-week-report/ Australia’s First Bitcoin ETF to Be Listed Next Week: Report Cosmos Asset Management’s Bitcoin ETF will be listed on the Cboe trading platform. By Oliver Knight Apr 19, 2022 at 6:57 a.m. PDT Updated Apr 19, 2022 at 8:02 a.m. PDT ASX, Australia Securities Exchange. (ymgerman/Shutterstock) Cosmos Asset Management’s Bitcoin ETF, Australia’s first bitcoin exchange-traded fund, will be listed on the Cboe equities trading platform next week, Australian Financial Review reported on Tuesday. ASX Clear, the clearing house at the center of Australian capital markets, has confirmed it has four market participants that will cover initial margin requirements of 42%. A notice will be sent to market participants on Wednesday, the newspaper said, citing Hamish Treleaven, ASX's chief risk officer. That will allow the product to start trading on April 27. The Cosmos fund invests in crypto through the Purpose Bitcoin ETF that listed on the Toronto Stock Exchange last November. There is speculation of $1 billion in inflows when the ETF goes live in Australia next week, the newspaper reported. Cosmos has two existing products, including the Global Digital Miners Access ETF, which trades on Cboe Australia with net assets of $2.1 million, and the unlisted Bitcoin Wholesale Access Fund. ASX Clear’s approval for approving the Cosmos Bitcoin ETF may pave the way for the National Stock Exchange of Australia to begin listing bitcoin ETFs.
2.1mln currently under management and expected inflow for the etf north of a billion? You must be dreaming. Let's see. Happy to stand corrected but my hunch is it's gonna be a fraction of that.
Damn you beat me to it. This is extremely bullish news. 1. This will increase demand for Bitcoin significantly. 2. Now that Australia is launching a Bitcoin ETF, it won't be long before the SEC reconsiders allowing an American ETF since we will be losing out on taxable money. (Keep in mind we have already been rejected once) 3. As demand picks up other big players will jump on board driving the price even further. The writing is on the wall, clear as day. If you think Bitcoin is going anywhere but up, I feel sorry for you.
think again. SEC will not allow spot ETF until fake money aka unaudited stable coins exist. Once fake money leave the system, anything but up might be revisited
That's your own opinion. Americas future well being is at stake if they do not allow a Bitcoin ETF. And even if they don't allow it, all these other countries allowing ETFs will drive the price up anyway. And these are facts I'm talking about. And if you read any articles you will also see that stable coins are 100% backed by money and other commodities, so don't even go there.
Lol. And the biggest of them Tether refuses any audit why? They claim to be backed by commercial paper and yet not a single bank ever saw them trading one ….
Well they aren't just backed by money, they are also backed by assets exceeding the total amount of Tether. As far as I'm concerned this is better, I don't want something backed by USD that's almost worthless.
Very unlikely. Canada has had an explosion of crypto ETFs for over a year now. It hasn't changed anything with the SEC, despite every crypto-bull has made the exact same sort of comments since the start. The average American couldn't even spot Australia on a world-map if their life depended on it. So how is this going to be a big deal now?
Why are you getting an attitude with me? Im just stating the facts. Yeah you're right, it hasn't changed anything YET. More countries will soon follow Australia with Bitcoin ETFs and then america will realize it's being left in the dust as the leader in reserves. To not do anything would be the same as saying that America is stupid...