Three crypto ETFs to be delisted in Australia as crypto winter continues

The companies down the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF filed a petition to revoke their quotations connected Cboe Australia, according to letters disclosed connected Nov. 2. 

The determination to revoke the quotes reflects the crypto winter's interaction connected request for crypto assets, not the absorption teams' content successful the space's future, according to reports. Each of the 3 funds has a nett plus worth nether $1 million.

On Oct. 31, Cosmos had requested that trading of its Bitcoin and Ether ETFs beryllium halted. A trading halt was besides requested separately by One Managed Investment Funds Limited for the integer miners ETF.

Two of the funds received greenish lights for trading successful the state conscionable successful May, aft getting regulatory approval, as reported by Cointelegraph. For the archetypal bitcoin ETF listing successful Australia, Cosmos landed the minimum of 4 marketplace participants to enactment the 42% borderline requirements needed to screen risk. At the time, section players forecasted inflows up to $1 cardinal for the people of assets.

According to a caller study from CryptoCompare, the mean regular trading measurement of organization crypto products had fallen 34.1% — to $61.3 cardinal successful October. The mean regular volumes of astir each the products covered successful the study decreased by -24.3% to -77.5% successful the month.

October's Bitcoin-based products recorded play nett flows of $8.37 cardinal connected average, portion abbreviated Bitcoin-based products saw the largest outflows, averaging $5.03 million, arsenic per the report.

The downturn successful prices has an interaction connected different crypto exchange-traded funds. In October, the Valkyrie Funds announced its plans to adjacent the Valkyrie Balance Sheet Opportunities ETF, a crypto concern merchandise offering indirect vulnerability to BTC.

The money was delisted from the Nasdaq Exchange connected Oct 31, with remaining investors receiving a currency organisation adjacent to the nett plus worth of the held shares. Valkyrie said the determination was portion of an ongoing reappraisal of products arsenic the steadfast aims to “best conscionable lawsuit demand.”