Speaking with CNBC, Graham Tuckwell of (ETF) Securities discussed on May 18, the recently launched crypto ETFs in Australia. These ETFs are listed on the CBOE Exchange and fully backed by assets held in cold storage, while tracking the Australian dollar price of Bitcoin and Ethereum, respectively. Tuckwell said in the interview: Asked if there are facilities present, which would potentially even out price swings, Tuckwell explained:
Capitulation time
The reception for the ETFs was muted as global crypto markets were rocked by the collapse of the stablecoin UST. Elsewhere, Tony Sycamore, senior market analyst for City Index told Bloomberg: The ETFs in one sense offer an easier alternative to getting exposure to crypto for less tech-savvy investors who would like to avoid know-your-customer (KYC) procedures or open up various crypto wallets to have their assets transferred to them. Time will tell if these products arrived at an opportune time and whether they will usher in an era of crypto ETFs. Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
