Crypto Innovators ETF sets daily record for ASX debut in less than an hour

Discussion in 'Crypto Assets' started by themickey, Nov 3, 2021.

  1. themickey

    themickey

    https://stockhead.com.au/cryptocurr...ly-record-for-asx-debut-in-less-than-an-hour/
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    26 minutes ago | Derek Rose

    A crypto-themed ETF has had the most successful launch in ASX history, eclipsing the record for the most debut inflows in less than an hour of trade.

    Betashares’ Crypto Innovators ETF (ASX:CRYP) invests in listed companies in the crypto economy, such as exchanges, Bitcoin miners and infrastructure companies.

    It had attracted more than $8 million within 45 minutes of launch, beating the local bourse’s previous daily record of $5.2 million, set in September 2020 by an ETF that invests in semiconductor manufacturers.

    The ETF was the result of more than six months of work between Betashares and the ASX, the company said.

    “In thinking about the process that the two teams had to navigate to get to this position today, only one word comes to mind – duck,” ASX listings executive Mark Cunningham said at the bell-ringing ceremony this morning.

    “The best things in life, though come to those who wait,” he added.

    It’s Betashare’s 69th ETF to list on the ASX since the company’s first one was launched in 2010. A few have shut down but the 64 that remain account for $20 billion in funds.

    The exchange-traded fund aims to track the Bitwise Crypto Innovators Index. Its holdings include Coinbase (NASDAQ:COIN), the leading US crypto exchange; Silvergate Capital (NYSE:SIL), which provides banking services to crypto exchanges; and Riot Blockchain, (NASDAQ:RIOT) a Bitcoin mining company.

    On crypto markets, Bitcoin was holding steady above $US62,000 in overnight trade, with Ethereum trading just shy of the recent all-time highs it struck earlier this week.
     
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  2. themickey

    themickey

    I took a small position, will sit and hold it.
     
    johnarb likes this.
  3. themickey

    themickey

    So long as its not lame. :)
     
    johnarb likes this.