• Tue. Jun 18th, 2024

BetaShares and VanEck Reported Applied for Aussie Cryptocurrency Exchange Traded Funds (ETFs)

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May 5, 2021

By now, the entire world knows that the cryptocurrency industry was first launched back in 2009. However, the world only grew interested in cryptocurrencies when the year 2020 came. The pandemic led millions of people on the brink of losing all their savings while many ended up losing their jobs.

Due to the above, people had started losing hope and had no idea what to do next. That is when the cryptocurrency industry emerged as the only space that had the potential to bring in decent gains for investors from small investments.

As a result, people started rallying up to the cryptocurrency industry and now they want to have access to different services and utilities offered by the crypto-verse to make their lives easier.

As the cryptocurrency industry continues to grow, more and more investors are coming to this platform. It has been revealed that the percentage of people taking an interest in investing in cryptocurrencies is much more than the actual number of cryptocurrency users.

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However, soon these crowds will be catered to by the likes of businesses and families that have been in the stocks business for a decent amount of time. With the cryptocurrency industry’s recent growth and hefty gains, every institution wants to take advantage of the overall nature of the industry.

In the year 2021, many companies from around the world, especially, Canada launched their own exchange-traded funds (ETFs). After that, the United States of America went for the Exchange Traded Funds (ETFs).

So far, several companies from all over the world have reported that they had successful initiation of their cryptocurrency exchange-traded funds (ETFs). This time around, the country that has taken the opportunity of launching its own exchange-traded fund (ETF) is Australia.

In Australia, there is not just one but more than one company that is interested in launching their own exchange-traded funds. The local Australian sources have revealed that several companies from all over the country are interested in launching their own exchange-traded funds (ETFs).

Once launched, it would be the first-ever exchange-traded fund launched for cryptocurrencies by a company based in Australia.

The sources have confirmed that for now, BetaShares and VanEck have filed requests to get their cryptocurrency exchange-traded funds (ETFs) approved.

Both companies have logged their submission requests at the Australian Securities Exchange (ASX). Initially, it was expected that the Australian Securities Exchange (ASX) would reject the request based on the speculations. The speculations were that the ASX did not support such an idea and would reject it right away.

However, the Australian Securities Exchange (ASX) confirmed they had no such intentions and were open to new and innovative ideas.

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