Australian crypto ETFs to be delisted

Quick Take

  • Crypto-focused ETFs in Australia will be delisted after debuting earlier this year.

Cosmos Asset Management plans to delist the Cosmos Purpose Bitcoin Access ETF (CBTC) and Cosmos Purpose Ethereum Access ETF (CPET) funds, according to a Nov. 2 letter posted to the securities and derivatives exchange Cboe Australia. In a separate letter, One Managed Investment Funds Limited also informed the Cboe that it will request to revoke the quotation for the Cosmos Global Digital Miners Access ETF.

The three Cosmos funds soon to be delisted each have net asset values under A$1 million. 

Cosmos had filed a letter with the Cboe on Oct. 31 requesting that trading related to the CBTC and CPET ETFs be halted. One Managed Investment Funds Limited also requested a trading halt on the Cosmos Global Digital Miners Access ETF (DIGA) in a separate letter.

Spot crypto ETFs are relatively new in Australia, where the first of these products launched in May just around the time crypto asset prices started sliding.. The Cosmos Purpose Bitcoin Access ETF was one of the first to launch on Cboe Australia, along with bitcoin and ethereum ETFs from Zurich-based 21Shares. Cosmos' Purpose Ethereum Access ETF launched in June.

The DIGA ETF first launched in Oct. 2021 when Cboe Australia was known as Chi-X.

Cosmos' intent to delist the funds was first reported by Bloomberg.

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