The global adoption of cryptography is growing day by day. In particular, the signing of the cryptography Law by the United States and the fact that Europe is not lagging behind and is starting research on this issue leads to this adoption. The new one came from Australia. Australia will try Bitcoin ETFs for stock trading for the first time.
The margin is ready
While these ETFs are expected to launch next week, they should also measure demand. It is also stated that three corporate-level companies are ready to provide the necessary margin. Australian officials say they are ready to provide margin for these ETFs and that these ETFs can be sold on April 27. In addition, officials say that the necessary permits will be ready by April 20.
After this period, brokers and traders participating in the swap will have only seven days to launch a new product. In other words, the opening of these ETFs, which are called the Cosmos Asset Management Bitcoin ETF, will take place exactly on April 27. In addition, these ETFs are expected to generate $1 billion in supply after their launch.
Adoption of Cryptos
As with any crypto movement, there are, of course, opposing points of view in this activity. Opponents argue that ETFs are riskier and more unreliable than traditional stocks. In addition, some believe that ASX Clear, the company that will own these EFTs, is deliberately prolonging the process and seeks to protect the competitive environment in the company’s own interests.
In addition, it has been almost two years since the Australian Securities and Investments Commission wrote a letter stating that Bitcoin (BTC) transactions are not accepted in Australia. It seems that both commissions have changed their minds, and taking into account these and similar events, the use of cryptocurrencies and ETFs by countries is growing.
