The Australian-based CRYP ETF fund hit records within 15 minutes after listing
Industry News
BetaShares moved the Australian crypto sector to a new level, by launching an ETF fund based on crypto-related companies. BetaShares is known as the leading Australian fund manager, and now the company strengthens its positions in the national market.
The CRYP (Capital Appreciation Portfolio Diversification) fund opens new horizons for Aussies. The exchange-traded fund aims to invest in the top-50 world’s major companies, including Galaxy Digital, Marathon Digital, Microstrategy, and more. This is why investors are about to get access to the explosively growing sector while investing in CRYP.
Since the first 15 minutes of trades, the fund has attracted 8 million AUD (approximately $5.8 million), while the overall volumes within the opening day are 42.5 million AUD (nearly $31.3 million). As such, the fund set a new record for the Australian Securities Exchange.
Ryan McCall, CEO of Zerocap, comments on the new opportunity for Australian investors: “The approval of spot ETFs based on Bitcoin, Ethereum, and other digital currencies is rather close, and the Australian economy is ready for this step.”
Australia is among the most crypto-progressive countries. As of October, the Senate’s report stated the government needs to introduce some more crypto-favorable laws to be competitive with Singapore, the United Kingdom, and the USA.
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