Media: ASX to List First Bitcoin ETF

The Australian Securities Exchange (ASX) could add a Bitcoin-based exchange-traded fund to its listings by the end of 2021 after reviewing the applications. This is reported by Business Insider Australia, citing sources familiar with the situation.

ASX representatives did not confirm the information in comments to the publication. However, they said the exchange is \”devoting a great deal of time to this issue.\”

\”You can see how widespread digital assets have become at the institutional level in developed markets. This cannot be ignored\”, said ASX Chief Executive Max Cunningham.

According to the senior executive, the exchange could provide transparent and inexpensive tools to give retail investors access to cryptocurrencies, shielding them from riskier alternatives.

Cunningham acknowledged that price manipulation remains a problem for the developing asset class. For this reason, the submitting companies \”are required to show the benchmarks on which prices can be based.\”

In February, the Australian regulator approved the listing of Cosmos Capital’s Bitcoin ETF on the ASX.

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