Powered by MOMENTUM MEDIA
Friday 3 February 2023
  • Contact
  • Subscribe
  • About
  • Advertise
  • Events
 Fintech logo
  • Wealth
  • Payments
  • Currency
  • Data
  • Industry
  • Video
  • Lending
Friday 3 February 2023
 Fintech logo
  • Wealth
  • Payments
  • Currency
  • Data
  • Industry
  • Video
  • Lending
  • Contact
  • Subscribe
  • About
  • Advertise
  • Events

Powered by MOMENTUMMEDIA

Website Notifications

admin panel image

Get notifications in real-time for staying up to date with content that matters to you.


Home/
Currency/
Australia’s first crypto-ETF makes historic debut

Latest News:

  • Labor delivers budget underweight in tech focused measures
  • Hurdles emerge for Aussie fintechs after period of record investments
  • A future without SOAs
  • CFS launches new adviser people and culture platform
  • AMP launches ‘innovative’ new retirement solution
  • Finfluencers are often ‘extravagant, misleading and unlicensed’, says ASIC chair
  • Advice practices lack ‘deliberate’ tech stack
  • Likely Privacy Act changes to impact advisers
  • NAB leads $6m funding round for Australian fintech Thriday
  • Can technology finally make goals-based advice a reality?

Australia’s first crypto-ETF makes historic debut

Australia’s first crypto ETF has broken ASX trading records within hours of its arrival.

0 comments
Currency | 04 November 2021 | Fergus Halliday <
Currency
|
04 November 2021
By: Fergus Halliday — 1 minute read

— 1 minute read

A week after ASIC gave crypto-asset linked exchange-traded funds (ETF) the go-ahead, the BetaShares Crypto Innovators (CRYP) ETF has smashed trading records.

CRYP debuted on the Australian Stock Exchange (ASX) at approximately 10:30am this morning at a price of $11.23 per unit.

Within the first 15 minutes on the market, the ETF experienced a surge in demand from investors.

Trading volumes in that initial period are estimated to be around $8 million, which puts it on par with the record-setting first day trading volume of Hyperion’s Global Growth Companies Fund.

However, that figure quickly tripled. Trading volume for the CRYP ETF was estimated to have reached approximately $28 million by 1pm.

While the CRYP ETF does not include any crypto holdings in of itself, it provides Australian investors with exposure to a number of global companies involved in the cryptocurrency space.

The list here includes Coinbase, Riot, Microstrategy and Silvergate.

While the CRPY ETF is the first crypto ETF to be listed on the ASX, its arrival comes on the back of a number of blockchain and fintech-focused ETFs that listed on the Chi-X earlier this year.

Ahead of the launch of the CRYP ETF, BetaShares CEO Alex Vynokur said that he expected significant demand for the fund to come from experienced and first-time crypto investors.

Mr Vynokur said that the crypto economy was highly dynamic and growing rapidly, but that the CRYP ETF would seek to take advantage of the disruption through a “pick and shovel” approach to the sector.

“CRYP will be an innovative way for investors to get exposure to the crypto sector in a familiar, liquid and cost-effective ETF structure,” he said.

The successful launch of the CRYP ETF comes a week after ASIC issued new guidelines for crypto-asset linked securities in Australia.

These requirements include a commitment to compensate investors for losses incurred by poor custodianship practices and formal disclosures regarding the specific technological, financial and environmental risks involved with crypto assets. 

“Crypto assets have unique characteristics and risks that must be considered by product issuers and market operators in meeting their existing regulatory obligations,” ASIC commissioner Cathie Armour said.

Neil Griffiths

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.

SHARE THIS STORY
0
SHARES
join the discussion
ETF hype pushes bitcoin towards new all-time high
Senate inquiry proposes laws to turn Australia into leading digital economy
crypto-1-fb-intro.jpg
Written by Fergus Halliday
Last Updated: 08 November 2021
Published: 04 November 2021

Latest Posts

Fintech Intro Image

A future without SOAs

Vincent Holland

A future without SOAs

advice-couple-fintech.jpg
Written by Vincent Holland
Last Updated: 24 October 2022
Published: 24 October 2022
Fintech Intro Image

Can technology finally make goals-based advice a reality?

Andrew Zietara

Can technology finally make goals-based advice a reality?

integrated-tech-chip-fintech.jpg
Written by Andrew Zietara
Last Updated: 10 October 2022
Published: 30 September 2022
Fintech Intro Image

Is Google’s LaMDA chatbot sentient?

Mary Manning

Is Google’s LaMDA chatbot sentient?

mary-manning-alphinity-fintech.jpg
Written by Mary Manning
Last Updated: 16 September 2022
Published: 19 September 2022
View all Blogs

Most Shared

Most shared image

Aussie fintech hub flooded with applicants

255   SHARES

Aussie fintech hub flooded with applicants

stone-and-chalk.jpg
Written by Tim Stewart
Last Updated: 25 May 2015
Published: 15 May 2015
Most shared image

Turnbull pledges to support start-ups

185   SHARES

Turnbull pledges to support start-ups

parliament.jpg
Written by Tim Stewart
Last Updated: 21 September 2015
Published: 21 September 2015
Most shared image

The rise of the robo-advisers

161   SHARES

The rise of the robo-advisers

Giovanni-Ravone.jpg
Written by Giovanni Ravone
Last Updated: 17 June 2020
Published: 10 June 2015

Subscribe to Fintech Business

 
  • Lending
  • Wealth
  • Payments
  • Currency
  • Data
  • Events

OUR PLATFORMS AND BRANDS

  • Accountants Daily
  • Adviser Innovation
  • Australian Aviation
  • Cyber Security Connect
  • Defence Connect
  • Fintech Business
  • HR Leader
  • Independent Financial Adviser
  • Investor Daily
  • Lawyers Weekly
  • Money Management
  • Mortgage Business
  • Nestegg
  • Real Estate Business
  • Smart Property Investment
  • SMSF Adviser
  • Space Connect
  • Super Review
  • The Adviser
  • Wellness Daily
  • Which Investment Property
  • World of Aviation

EVENTS AND STREAMING

  • Accountants Daily 30 Under 30 Awards
  • Accountants Daily Strategy Week
  • Adviser Innovation Summit
  • Australian Accounting Awards
  • Australian Broking Awards
  • Australian Defence Industry Awards
  • Australian Law Awards
  • Australian Space Awards
  • Australian Space Summit
  • Better Business Awards
  • Better Business Summit
  • Boutique Law Summit
  • Business Accelerator Program
  • Corporate Counsel Awards
  • Corporate Counsel Summit
  • Cyber Security Summit & Awards
  • Defence Connect Budget Lunch
  • Fund Manager of the Year Awards
  • ifa Business Strategy Day
  • ifa Client Experience Workshop
  • ifa Excellence Awards
  • Lawyers Weekly 30 Under 30 Awards
  • Lawyers Weekly Masterclass Series
  • Mortgage Business Awards
  • New Broker Academy
  • Partner of the Year Awards
  • REB Awards
  • SME Broker Bootcamp
  • SMSF Adviser Technical Strategy Day
  • Women in Finance Awards
  • Women in Law Awards
  • Women in Real Estate Awards
  • Wraps, Platforms and Masterfunds

    KNOWLEDGE CENTRES

  • AccountantsDaily Knowledge Centre
  • ifa Knowledge Centre
  • Lawyers Weekly Knowledge Centre
  • Mortgage Business Premium
  • The Adviser Knowledge Centre

STAY CONNECTED

Get breaking news

LINKS

  • About us
  • Advertise
  • Contact
Copyright © 2023 MOMENTUMMEDIA
Copyright and Disclaimers ● Privacy Policy ● Terms and Conditions
FinTechBusiness

OUR PLATFORMS AND BRANDS

  • Accountants Daily
  • Adviser Innovation
  • Australian Aviation
  • Cyber Security Connect
  • Defence Connect
  • Fintech Business
  • HR Leader
  • Independent Financial Adviser
  • Investor Daily
  • Lawyers Weekly
  • Money Management
  • Mortgage Business
  • Nestegg
  • Real Estate Business
  • Smart Property Investment
  • SMSF Adviser
  • Space Connect
  • Super Review
  • The Adviser
  • Wellness Daily
  • Which Investment Property
  • World of Aviation

EVENTS AND SUMMITS

  • Accountants Daily 30 Under 30 Awards
  • Accountants Daily Strategy Week
  • Adviser Innovation Summit
  • Australian Aviation
  • Cyber Security Connect
  • Australian Accounting Awards
  • Australian Broking Awards
  • Australian Defence Industry Awards
  • Australian Law Awards
  • Australian Space Awards
  • Australian Space Summit
  • Better Business Awards
  • Better Business Summit
  • Boutique Law Summit
  • Business Accelerator Program
  • Corporate Counsel Awards
  • Corporate Counsel Summit
  • Cyber Security Summit & Awards
  • Defence Connect Budget Lunch
  • Fund Manager of the Year Awards
  • ifa Business Strategy Day
  • ifa Client Experience Workshop
  • ifa Excellence Awards
  • Lawyers Weekly 30 Under 30 Awards
  • Lawyers Weekly Masterclass Series
  • Mortgage Business Awards
  • New Broker Academy
  • Partner of the Year Awards
  • REB Awards
  • SME Broker Bootcamp
  • SMSF Adviser Technical Strategy Day
  • Women in Finance Awards
  • Women in Law Awards
  • Women in Real Estate Awards
  • Wraps, Platforms and Masterfunds

links

  • About us
  • Advertise
  • Contact
  • Copyright & Disclaimers
  • Privacy Policy
  • Sitemap

CATEGORIES

  • Lending
  • Wealth
  • Payments
  • Currency
  • Events

STAY CONNECTED

Copyright © 2023 MOMENTUMMEDIA