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Highlights
- BetaShares Crypto Innovators ETF (ASX: CRYP), will be the first crypto-themed ETF and will be launched on the ASX this coming Thursday
- CRYP will aim to track the Bitwise Crypto Industry Innovators 30 Index before fees and expenses
- Current index constituents include cryptocurrency exchange platform Coinbase (COIN), Bitcoin mining company Riot Blockchain (RIOT) and business intelligence firm Microstrategy (MSTR)
After much anticipation, a cryptocurrency-themed electronic traded fund (ETF) will be released on Thursday, making it the first of its kind in Australia.
While there have been many trying to be the first to release the first crypto ETF, the winner of that race is BetaShares Crypto Innovators ETF (ASX: CRYP), which will be launched on the ASX this coming Thursday.
Surprise Inclusion
The inclusion of the new ETF comes as a surprise to many crypto investors and experts who believed that there wouldn’t be a crypto themed ETF listed on the ASX until at least 2022.
Just last week, crypto investors were showing enthusiasm about the new Cosmos ETF (DIGA ), which had then been billed as the closest thing to a crypto ETF. This ETF, however, tracks crypto mining companies rather than the performance of cryptocurrencies themselves, so it’s not a direct crypto ETF.
What is The Beta Shares ETF?
For the uninitiated, ETF is a fund that tracks the performance of various other shares and commodities. Similarly, a crypto ETF tracks the performance of various cryptocurrencies. It’s the closest thing to investing in bitcoin on a regulated platform.
And so, CRYP will aim to track the Bitwise Crypto Industry Innovators 30 Index before fees and expenses.
Bitwise is one of the largest global crypto-asset managers.
CRYP provides investors with access to a portfolio of global companies at the forefront of the rapidly emerging crypto space.
CRYP’s index is designed to capture the full breadth of the vast crypto space , by providing exposure to those crypto companies whose balance sheets have least 75 percent in crypto-assets.
Current index constituents include cryptocurrency exchange platform Coinbase (COIN), Bitcoin mining company Riot Blockchain (RIOT) and business intelligence firm Microstrategy (MSTR).
How Do I Buy CRYP?
It’s important to note. One doesn’t buy individual ETFs. Instead, investors buy ETF units - similar to company shares.
These ETF units can be purchased in the same manner one would purchase shares – that is – through a broker or online share trading platform. Some of these platforms include eToro, IG Share Trading and Bell Direct:
The introduction of CRYP is an exciting inclusion to the ASX. This will allow investors to participate in the quickly growing cryptocurrency space while being protected by stock market regulations, otherwise not found on current cryptocurrency exchanges.
