Whether Cryptocurrencies are the future remains hot topic, with strong arguments on both sides of the debate. Crypto fanatics are celebrating in Australia at the moment however, as main stream investors get on board.
What Happen For Crypto In Australia?
Betashares’ new ETF product, ASX: CRYP, will track companies that hold a minimum of 75% in crypto assets, and diversified companies with crypto-focused business. The fund will include Coinbase, as well as other large cryptocurrency based companies.
ETF Securities on the other hand is launching their product on the Chi-X exchange (Chi-X: FTEX). ETF Securities’ product will invest in fintechs and other companies that take advantage of emerging blockchain technologies.
Directly Investing In Crypto Remains Fringe
Both of these products allow investors to gain exposure to the cryptocurrency industry and new technologies, without gaining direct exposure to Crypto currency. There still are not Crypto ETF’s yet due to regulation, however the availability to invest in crypto-based-businesses is a push in the right direction.
These products also offer an extremely significant push towards crypto markets financially. Through registering exchange traded product, Betashares and ETF Securities have opened the doors for the Australian $3 trillion superannuation industry to be exposed to cryptocurrency businesses and markets.
The possibility for an ETF that directly holds a basket of different crypto currencies seems increasingly likely, which would legitimize the new asset class. Currently the crypto space is largely unregulated, forcing investors to assumer counterparty risks by investing through largely unregulated crypto exchanges and brokers.