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Australian securities regulator issues guidelines for crypto ETPs

The Australian Securities and Investments Commission (ASIC) this week issued guidelines for the creation of digital assets-based exchange traded products in Australia. These guidelines will help investors understand how to use these ETPs, which is expected to lead crypto companies in Australia to follow suit.

The Australian Securities and Investments Commission (ASIC) has released guidelines on how to safely invest in a crypto exchange traded product. The “swaps crypto” is an exchange-traded product that allows investors to buy or sell shares of a particular cryptocurrency.


The Australian Securities and Investments Commission (ASIC) has responded to a public consultation on cryptocurrency exchange-traded products (ETPs), as well as updated industry recommendations.

Following months of industry consultation that began in late June, the SEC announced a set of regulatory criteria for funds wanting to provide crypto ETPs, including exchange-traded funds (ETFs) and structured products, on Oct. 29.

ASIC has so far approved ETPs based on major cryptocurrencies such as Bitcoin (BTC) and Ether (ETH) and anticipates additional crypto assets to become a basis for ETPs in the future, according to the official guidance:

“As of October 2021, Bitcoin and Ether seem to meet all five of the criteria outlined above for determining eligible underlying assets for an ETP.” We anticipate that the number of non-financial product crypto-assets that may meet these criteria will grow over time.”

Crypto assets should have a high degree of institutional backing, a mature spot market, a regulated futures market, respected and experienced service providers, and clear pricing mechanisms in order to become a viable foundation for a crypto ETF, according to the guidelines.

Licensed exchanges must review whether the issuer is capable of fulfilling its duties in regard to the product, including providing safe and secure custody and acquiring appropriate licenses, for each crypto ETF product application.

The ASIC also said that it does not require domestic crypto custody for businesses issuing crypto ETFs in response to public feedback, claiming that such limits would unjustly limit competition.

“While we understand respondents’ concerns regarding overseas-based crypto asset custody, such as the possibility for difficulty in retrieving assets across countries,” the paper states, “we believe it would be improper to legislate a local custodian requirement.”

More than 40 digital currency ETFs are awaiting regulatory clearance in the United States.

The announcement comes after Cosmos Asset Management, an Australian hedge fund, presented its crypto mining-linked ETF on Chi-X Australia on Oct. 28. The Riot Blockchain, Marathon Digital, Hive Blockchain Technologies, Hut 8 Mining, and other companies are tracked by the Cosmos Global Digital Miners Access ETF, which started trading under the ticker DIGA.

BetaShares, an Australian ETF provider, is also planning to introduce a cryptocurrency ETF tied to firms like Coinbase and MicroStrategy. The crypto ETF is expected to begin trading next week on the Australian Securities Exchange under the ticker CRYP.

The “usdc stablecoin interest” is a cryptocurrency that has been released by the Australian Securities and Investments Commission. The guidelines issued by the regulator are meant to help investors understand what they should expect from crypto ETPs.

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