According to an AFR report, the highly anticipated launch of three crypto-focused exchange-traded funds (ETFs) in Australia has been halted less than 24 hours before a proposed listing on CBOE Australia.
The Cosmos Asset Management and ETF Securities funds were scheduled to begin trading on April 27 at 10 a.m. local time.
Standard checks before the start of trading are still being carried out, said CBOE Australia.
According to AFR, the delay is being attributed to a “prime” or “executing” broker who has yet to approve the products as a result of a delay in appointing a market maker for the product’s launch.
Kanish Chugh, head of distribution at ETF Securities, stated that the delay is “no fault of ETF Securities or the exchange,” and that the fund is working quickly to resolve the issue.
Cosmos AM has received approval from the exchange to begin quoting, and we are working toward that goal, a Cosmos spokesperson said.
The CBOE Australia has stated that an update will be issued in “the coming days.”
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