3iQ Corp introduced a third Bitcoin ETF (Exchange-Traded Fund) in Australia after it launched the Coinshare’s Bitcoin Feeder ETF on Australia’s CBOE exchange.
The new Bitcoin exchange-trade fund will enable investors within the retail industry and institutional venture capitalists to gain exposure to Bitcoin’s spot price via a central fund. Coinshare’s Bitcoin Feeder exchange-trade fund has a 1.20% fee, which is reportedly the lowest fee structure on the market for Australia-based Bitcoin ETFs.
The fund will put money into Bitcoin from counterparties and exchanges screened by the organisation and using derivatives is not within the company’s plans. The exchange-trade fund will function similarly to a mutual fund of spot BTC holdings.
Coinshare’s Bitcoin Feeder Exchange-Trade Fund has a structure regulated in a double capacity, which is to be under the jurisdiction of both Australia and Canada regulations. The ETF’s value will be reflected from the MVIBBR (MVIS CryptoCompare BTC Benchmark Rate Index). The ETF’s price will be calculated in 20 3-minute intervals. The weighted average will resemble Bitcoin’s current value.7
In November 2022, Australia and CBOE announced the first 2 Bitcoin ETFs. At the time, they were the first official offerings in Australia with diverse structures.
