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Australian Crypto-Focused ETF Hits Record, Spot-Based BTC, ETH ETFs Expected
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The first crypto industry-focused exchange traded fund (ETF) in Australia was launched on Thursday this week, and within 15 minutes of trading a new record in trading volumes on the Australian stock market was smashed. Meanwhile, new regulations have opened the door for spot-based bitcoin (BTC) and ethereum (ETH) ETFs to launch.
The Crypto Innovators ETF, brought to market by local fund management firm BetaShares and traded under the ticker CRYP, saw its trading volumes exceed AUD 8m (USD 5.9m) after just 15 minutes yesterday. By noon, the volume had skyrocketed further to AUD 24.5m (USD 18m), before closing the day with a daily trading volume of AUD 42m (USD 30.95m), market data showed.
The unusually high trading volume marked a new record
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