![]() It splits its holdings across two company tiers. Data as of 31 January 2023ĬRYP holds 27 companies, with the top 10 making up 76% of the ETF. N/A indicates not enough track record given the recent inception of the index. MVIS CryptoCompare Ethereum Benchmark Rate Index (EBR) MVIS CryptoCompare Bitcoin Benchmark Rate Index (BBR)ĬryptoCompare’s Crypto Coin Comparison Aggregated Index (Ethereum) Ticker CODEĬryptoCompare’s Crypto Coin Comparison Aggregated Index (Bitcoin) While some cryptocurrencies have had meaningful gains historically, they can also go through periods of large and severe price declines (such as 2011, 2015, 2018 and early 2022). This is one reason that we avoid niche thematic ETFs for clients as they are launching. We spoke to the AFR about this phenomenon just as these crypto currency ETFs were launching and they seem to be following this pattern. Research shows that new ETFs often launch just as retail interest is peaking and before a period of poor returns. They fell by up to 45% in the 2nd half of 2022 alone. We expect these ETFs have experienced muted liquidity due to less demand in cryptocurrency spurred by the recent fall in price and broader industry contagion.ĮTFs tracking cryptocurrencies have only recently launched too but have had a rocky start to their ETF life. BT3Q and ET3Q have not had any volume traded in the December 2022 period. By comparison, some of the most popular global share ETFs trade up to $10 million daily.įrom the newer cryptocurrency ETFs, EBTC has the highest liquidity at $31,000 per day followed by EETH at $9,000 per day. TICKER CODEĬRYP is the most liquid crypto ETF, trading almost $266,000 in average daily volume. while other ETFs charge 1.25% p.a.įor the ETFs tracking the underlying cryptocurrency, ET3Q has the lowest spreads of 0.23% while BT3Q is at 0.41%. The crypto ETFs launched by 3iQ tracking Bitcoin and Ethereum are the cheapest direct exposure at 1.20% p.a. This is mainly due to a challenging environment for crypto in 2022, with both central bank tightening and Sam Bankman-Fried’s FTX collapse severely impacting crypto interest and prices.ĬRYP is the lowest cost crypto ETF with a management fee of 0.67% p.a. The remaining cryptocurrencies have only recently launched and have struggled to gain traction since with EBTC gathering $5.7 million in assets. It broke the record for the fastest Australian ETF to reach $100 million from investors, achieving that milestone four days after launching. In this article, we road test the best cryptocurrency ETFs in Australia across a range of different metrics to provide our analysis on the most suitable choice for investors.ĬRYP was launched in late 2021 and has since become the largest crypto ETF, by size, with $35 million. Stockspot reviews and compares more than 250 ETFs in our annual Stockspot ETF Report. Note: Cboe Australia was formerly known as Chi-X Last year, Cosmos Asset Management delisted three of their ETFs (DIGA, CBTC and CPET). There are currently eight ETFs in Australia available for investors to gain exposure to crypto. ![]() With over AU$1.6 trillion worth of cryptocurrency (crypto) assets in circulation, bitcoin and cryptocurrency generally are becoming a fast-growing asset class that is attracting investors.Ĭoinciding with the cryptocurrency market losing nearly 2/3rds of its value since it’s peak in late 2021, there has been the rise of exchange traded funds (ETFs) listed in Australia that gives exposure to crypto such as Bitcoin or Ethereum. ![]()
0 Comments
Leave a Reply. |