![]() ![]() “We have had strong reception in terms of retail investor and financial adviser interest in both bitcoin and ethereum ETFs,” says Arian Neiron, Asia-Pacific chief executive at VanEck, which has applied to list crypto ETFs on the ASX, alongside a number of competitors.Īrian Neiron of VanEck Australia hopes to replicate success of the firm’s crypto funds in Europe. Even if they make capital gains on paper, investors who purchase units in crypto assets via an unregulated exchange and store them in a digital wallet face heightened risk of losing them in a hack or cyber-attack.īut the holy grail remains a crypto managed fund available to regular retail investors, especially one in the form of an exchange-traded fund quoted on a mainstream sharemarket like the Australian Securities Exchange. Plus, government authorities such as Australia’s financial intelligence agency, AUSTRAC, have warned that criminal activity is over-represented on crypto networks compared to traditional banking. Gettyīut whether the population of local crypto owners is in the millions or the high hundreds of thousands, the trend is remarkable given the trade of crypto assets is a largely unregulated process.Įxchanges that facilitate access to these emerging virtual markets face few specific legal obligations other than the need to ensure they are not misleading and deceptive and capture some basic identification before allowing consumers to buy and sell digital tokens freely.Ĭompare that to sharemarket brokers or wealth management platforms, which in Australia must hold a financial services licence or be authorised by a licensee and are subject to strict rules about how they can promote and distribute their products - despite providing access to far safer traditional financial markets. Traditional and crypto-specialist firms have applied to launch bitcoin ETFs. The finding, based on a survey of 30,000 people in 20 countries, reflected a considerably larger cohort than the official estimate of the Commonwealth Treasury, which sits at about 800,000 individuals at last count. ![]() Global cryptocurrency trading platform Gemini estimates that about 18 per cent of Australians own digital assets.
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