Cosmos has submitted applications for divisting its cryptocurrency ETF in Australia – Bits Media

The management of Cosmos Asset Management has applied for divisting several cryptocurrency ETFs in Australia.

In the application, the Cosmos team indicated exchange funds, Bitcoin, broadcast and cost of shares of mining companies: Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF и Cosmos Global Digital Miners Access ETF. The company explained, that the decision to withdraw from the auction was not easy, but she was forced to do this in connection with the cryptosym, during which many digital assets collapsed. Three exchange funds Cosmos showed disappointing results.

General Director Cosmos Dan Annan (Dan Annan) explained, that a protracted fall in the cryptocurrency market reduced the interest of investors in this class of assets, provoking the lack of investment. From there, what, Despite the disappointing results, The company firmly believes in such investment tools and will continue to monitor the situation.

Note, that Cosmos Asset Management has become one of the first companies, launched spinal cryptocurrency ETFs for Australian investors. In October last year, Cosmos Global Digital Miners Accesses was located on the Australian exchange. (SAY), And in May, the CBOE Australia exchange was launched by COSMOS exchange funds, tied to bitcoin and ether. Unfortunately, The listing of these ETF coincided with the collapse of the Terra project, which contributed to the further fall of the cryptocurrency market.

Recently it became known, that the losses of investors of the first ETF in the USA in Bitcoin futures have about $1.2 billion. This investment product was launched by Proshares in October 2021 year in the wake of the growing demand of investors.

Many cryptocurrency companies have repeatedly turned to the US Securities and Exchange Commission (SEC) with a request to approve the launch of spotal ETF on bitcoin. However, the regulator motivates its refusal to fears about market manipulations and risks of loss of customer funds. Given the situation with cryptocurrency ETF, SEC can remain adamant for a long time.