The three ETFs were supposed to see be listed in April, but had to be postponed as one of the primary brokers decided not to list the ETFs due to the ‘volatile nature of cryptocurrencies’. However, his skepticism didn’t pay off. Though his colleagues weren’t able to change his mind, the ETFs found a new lease of life with a new different broker a month later.
First Cryptocurrency ETFs Approved in Canada and Switzerland
Canada and Switzerland are both working to keep up with innovations in the industry, and will soon release their own crypto-based ETFs. Canadian company 3iQ Digital Asset Management seized the opportunity, taking advantage of the delay to Australia’s ETFs to offer two of their own ETFs to the Australian public. ‘BT3Q’ and ‘ET3Q’ offer Bitcoin and Ethereum funds respectively, and represent strong challengers.
By contrast, The U.S. is still struggling to accept physically backed Bitcoin EFTs, but the new crypto bill signed by President Joe Bidden may be the catalyst needed to push things forward.
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Source: Cryptocurrency - investing.com
