The securities regulator of Australia decided not to require digital asset ETF providers to hold domestic virtual currency custody.
The Australia Securities and Investments Commission has issued its response to public consultation on digital asset exchange-traded products alongside the latest industry direction.
On Friday, the nation’s securities regulator divulged a set of regulatory requirements for funds looking to offer virtual currency exchange traded products. This includes exchange-traded funds as well as structured products, following the months of industry dialogue started in the month of June, this year.
The news comes soon after the Australian hedge fund manager Cosmos Asset Management launched its digital asset mining-linked ETF on Chi-X Australia on Thursday. The Cosmos Global Digital Miners Access ETF started trading under the ticker DIGA and tracks a couple of firms like Marathon Digital, Riot Blockchain, Hive Blockchain Technologies, Hut 8 Mining and others.
Australian Exchange Traded Fund provider BetaShares is also preparing to launch a digital currency ETF linked to industry organisations like Coinbase and MicroStrategy. Purportedly, the digital asset ETF will begin trading on the Australian Securities Exchange under the ticker CRYP next week.
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