Australian investors will get long-awaited access to bitcoin with an exchange-traded fund (ETF) directly investing in the cryptocurrency.
The ETF will track the spot price of bitcoin using the CME CF Bitcoin Reference Rate, which will provide transparency and ease of investment, compared to buying and holding bitcoin itself.
Prior to IBTC, Australian investors could only invest in bitcoin through indirect ETFs or offshore products that did not comply with Australia’s strict investor protection rules.
The quick approval of ETFs by the Australian regulator demonstrates the country’s desire to actively participate in the emerging cryptocurrency market.
Read the original article – https://ru.investing.com/news/cryptocurrency-news/article-2429517.
