Local Bitcoin ETFs in pipeline

The race to list the first bitcoin ETF in Australia is hotting up with Cosmos Capital, the crypto fund manager founded by James Manning, signing a partnership with the Canadian company that launched the world’s first bitcoin ETF.

Cosmos will sell an undisclosed number of new shares to Purpose Investments as part of a strategy aimed at listing some or all of its five crypto funds in Australia. Purpose has five crypto funds:

• the $C1.7 billion Bitcoin ETF,
• the $C3.8 million Crypto Opportunities ETF,
• the $C408 million Ether ETF,
• the $C42 million Ether Yield ETF, and
• the $C27 million Bitcoin Yield ETF.

Cosmos entered the crypto funds management space last year with a product called the Global Digital Miners Access ETF which has net assets of $1.9 million and is traded on Cboe Australia and the unlisted $5.6 million Bitcoin Wholesale Access Fund.

Cosmos is itself owned by Mawson Infrastructure Group, a Nasdaq listed bitcoin miner (originating in Australia, Mawson met impediments to listing on the ASX and went to Nasdaq (where it raised $50M to have a $1B valuation and is now with a $650M market cap).

Others in the race to launch the first Australian bitcoin ETF include ETF Securities, VanEck, BetaShares and Monochrome Asset Management.

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