The new crypto firm ETF of the fund management entity from Australia BetaShares has reportedly exceeded Australian Securities Exchange (ASX) records, in under 15 minutes since its official listing. 

Specifically, The Capital Appreciation Portfolio Diversification (CRYP) fund reportedly offers a chance for investors to be exposed to 50 pure-play listed crypto entities throughout the globe, nominally exchanges, mining firms and equipment establishments.

A variety of high-profile firms are reportedly included in the scope of CRYP, nominally Galaxy Digital (12.0%), Marathon Digital (11.3%), Coinbase Global (10.7%), Silvergate Capital (10.2%) and Microstrategy (9.4%).

Investors has reportedly surged pass the current ETF record of $5.8M (A$8M) in a matter of minutes, and climbed up to an overall figure nearing the $31.3M (A$42.5M) benchmark, towards the end of the opening day – which is a sign for majorly pent up demand for exposure to crypto on the ASX.

Ryan McCall – Head of the Australia-based crypto investment platform Zerocap – further remarked that it did not strike as a surprise when CRYP was successful, as people in Australia have displayed a taste for crypto throughout the last 12 months.

“We’ve had records broken in our business this year too; demand from high net worth individuals, family offices and advisers has really ramped up, and that looks set to accelerate with institutional adoption.”

He additionally believed that a spot Bitcoin ETF is approaching, followed by Ethereum and the possibility of other altcoins. 

The Australian Securities and Investment Commission (ASIC) has reportedly just offered a provision go-ahead, regarding the introduction of Bitcoin and Ethereum ETFs, as long as a long list of guidelines is adhered to.