Australia Will List Its First Bitcoin ETF Next Week.

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The first bitcoin exchange-traded fund (ETF) on Australia's primary stock exchange, the Australian Securities Exchange (ASX), is scheduled to go public next week after the country's main equity markets clearing house gave its approval.

The Cosmos Asset Management product would invest in Canada's Purpose Bitcoin ETF, which was launched last year as North America's first bitcoin spot ETF.

Australia’s first bitcoin ETF would invest in shares of Purpose Investment's bitcoin ETF, which debuted in early 2021 as North America's first bitcoin spot ETF.

"ASX Clear, the powerful clearing house at the heart of Australia's equities capital markets, now has four market players willing to foot the bill for the substantial margins required to cover the settlement risks for this highly volatile asset," says the statement.

To let a bitcoin ETF begin trading under its cover, ASX Clear demanded a 42% margin.