Australia’s First Crypto spot ETFs have witnessed extremely low trading volume since the launch back in the mid of May. On the debut of 21Shares’ spot Bitcoin and Ethereum ETFs, the volume was only around $656,000 and $415,000 respectively.
The two Crypto spot ETFs in Australia have both been coldly received by investors since they began trading on the Cboe Australia exchange on May 12nd, according to theThe three listed ETFs – Cosmos Purpose Bitcoin Access ETF, ETFS 21Shares Bitcoin ETF, and ETFS 21Shares Ethereum ETF – have all experienced sharp declines in trading volume as the extreme volatility of the crypto market has motivated investors to de-risk, thus avoiding speculative assets.
Since their launch, the spot ETFs have been a disappointment in gaining investors’ interest. Bloomberg Intelligence Senior ETF Analyst Eric Balchunas that the debuts had fallen short of expectations as compared to the first-day volume of Canada’s Bitcoin ETF, CI Galaxy Bitcoin ETF . WOW: shockingly timid debut for the two spot bitcoin and ether ETFs that launched today in Australia.