Australian Crypto ETF Listings Kick Off With Low Volumes Amid Crypto Correction

• The Cosmos Asset Management ETF, which invests successful bitcoin done the Canadian Purpose Bitcoin ETF, saw $250,000 successful trading measurement crossed the archetypal hr earlier hitting $400,000 by 1 p.m. successful Sydney.

• The ETFS 21Shares Bitcoin ETF experienced akin volumes, portion the ETFS 21Shares Ethereum ETF had astir $150,000 successful the archetypal hr of trading.

• The volumes were good beneath the expected $1 cardinal inflow of superior into these ETF's, according to a report by AFR. Bitcoin dropped to levels not seen since 2020 on Thursday, and the full crypto marketplace headdress lost 16% overnight.

• ETF Securities caput of organisation Kanish Chugh said that trading had been "relatively muted."

• "The utmost volatility successful crypto has caused immoderate investors funny successful crypto to beryllium connected the sidelines and hold for calm. This is simply a challenging marketplace for a crypto ETF launch," Chugh added.

• In a bid to incentivize measurement and entreaty to marketplace makers, Cosmos waived fees for the archetypal 2 months.

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