A Guide to Cryptocurrency ETFs on ASX (Australian Securities Exchange)

Cryptocurrency ETFs are relatively new to the international market and started trading on the Australian Securities Exchange (ASX) in 2022. We provide a list of cryptocurrency ETFs trading on ASX and the Cboe Australia, a brief summary of each fund, as well as funds that have been delisted. 

What Is a Cryptocurrency ETF? 

A cryptocurrency ETF is an exchange-traded fund that tracks the price of a single cryptocurrency or a basket of cryptocurrencies. To accomplish this objective, a crypto ETF may either directly hold a cryptocurrency, such as Bitcoin, or provide indirect exposure through cryptocurrency derivatives, such as futures contracts. 

The first cryptocurrency ETF on the market was the ProShares Bitcoin Strategy ETF (BITO), which began trading on the NYSE ARCA exchange on October 19, 2021. BITO does not invest directly in bitcoin. The fund invests in cash-settled, front-month bitcoin futures. 

What Is the Australian Securities Exchange (ASX)? 

The Australian Securities Exchange, or ASX, facilitates securities trading on the Australian stock market, as well as the Sydney Futures Exchange. ASX also provides market data and education. Trading alongside ASX securities in Australia are a range of Cboe Global Markets products, including ETFs and other equities.

Cboe Australia is an alternative trade execution venue to the ASX, which uses its own trading system. 

Cryptocurrency ETFs Listed on ASX 

In April 2022, Aussies were given their first opportunity to invest in a cryptocurrency exchange-traded product. Since then, several other crypto ETFs were added to the ASX and Cboe Australia exchanges. Tickers traded now include CRYP, EBTC, EETH, BT3Q, and ET3Q. 

ETFs that trade on ASX or Cboe Australia include: 

  • BetaShares Crypto Innovators ETF (CRYP) 
  • Global X 21Shares Bitcoin ETF (EBTC) 
  • Global Ex 21Shares Ethereum ETF (EETH) 
  • 3iQ CoinShares Bitcoin Feeder ETF (BT3Q) 
  • 3iQ CoinShares Ether Feeder ETF (ET3Q) 

BetaShares Crypto Innovators ETF 

The BetaShares Crypto Innovators ETF (CRYP) seeks to track the performance of an index that provides exposure to stocks of companies involved in the broader cryptocurrency economy. The benchmark index is cap-weighted and includes 30 stocks from around the globe. 

  • Exchange: ASX 
  • Assets under management: $42.82M 
  • Expense ratio: 0.67% 
  • As of date: December 2, 2022 

Global X 21Shares Bitcoin ETF 

The Global X 21Shares Bitcoin ETF (EBTC) attempts to provide investors a return of performance that tracks the price of bitcoin in Australian dollars. EBTC provides shareholders an interest in bitcoin held in cold storage (digital wallet held away from internet access) by Coinbase, the world's largest custodian of cryptocurrencies. 

  • Exchange: ASX 
  • Assets under management: $5.78M 
  • Expense ratio: 1.25% 
  • As of date: December 2, 2022 

Global X 21Shares Ethereum ETF 

The Global X 21Shares Ethereum ETF (EETH) attempts to provide investors a return of performance that tracks the price of ether in Australian dollars. EBTC provides shareholders with an interest in ether held in cold storage (digital wallet held away from internet access) by Coinbase. 

  • Exchange: ASX 
  • Assets under management: $2.86M 
  • Expense ratio: 1.25% 
  • As of date: December 2, 2022 

3iQ CoinShares Bitcoin Feeder ETF 

The 3iQ CoinShares Bitcoin Feeder ETF (BT3Q) is a fund domiciled in Australia that acts as a “feeder fund” giving investors access to a larger, target fund, the 3iQ CoinShares Bitcoin ETF (BTCQ), which is an ETF that trades in Canada. BTCQ seeks to track the daily price movements of the US dollar price of bitcoin. 

  • Exchange: Cboe Australia 
  • Assets under management: $0.10M 
  • Expense ratio: 1.20% 
  • As of date: December 2, 2022 

3iQ CoinShares Ether Feeder ETF 

The 3iQ CoinShares Ether Feeder ETF (ET3Q) is a fund domiciled in Australia that acts as a “feeder fund” giving investors access to a larger, target fund, the 3iQ Coinshares Ether ETF (ETHQ), which is an ETF that trades in Canada. ETHQ seeks to track the daily price movements of the U.S. dollar price of ether. 

  • Exchange: Cboe Australia 
  • Assets under management: $0.19M 
  • Expense ratio: 1.20% 
  • As of date: December 2, 2022 

Delisted Crypto ETFs in Australia 

The collapse of FTX in November 2022 became a catalyst that would lead to several crypto ETF delistings from the Australian Cboe exchange. Funds that were delisted in November include the Cosmos Asset Management Bitcoin ETF (CBTC), the Cosmos Purpose Ethereum Access ETF (CPET), and the Cosmos Global Digital Miners Access ETF (DIGA). 

Although the other crypto ETFs do not have plans of delisting from Aussie exchanges, the delisting of several crypto-related ETFs in Australia could become a global trend. Therefore, investors in Australia and around the world are wise to be cautious with new and thinly traded cryptocurrency ETFs and other risk assets. 

Bottom Line 

2022 was the year that brought new cryptocurrency ETFs to the Australian Stock Exchange and its relative trading system, the Cboe Australia. However, the same year brought on the delisting of three of those new ETFs. Although the new listings took time for approval, the timing of the listings came when cryptocurrency was facing headwinds with falling prices and the collapse of FTX, a crypto exchange.

 

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