Two extra cryptocurrency-backed exchange-traded funds (ETF) have been reportedly made available on the Cboe Australia exchange on June 6th, joining the previously rolled out four cryptos ETFs in Australia. 

Specifically, the 3iQ Digital Asset Management from Canada has reportedly introduced two spots ETFs, the 3iQ CoinShares Bitcoin (BTC) Feeder ETF, and the 3iQ CoinShares Ether (ETH) Feeder ETF.

Both of the Australian funds feed on the company’s Canadian ETFs with their listing available on the Toronto Stock Exchange (TSX), the 3iQ CoinShares Bitcoin ETF, and the 3iQ CoinShares Ether ETF. The underlying assets of the Canadian ETFs are holdings of BTC and ETH available in cold storage by the Gemini crypto exchange.

3iQ’s funds have reportedly followed the footstep of the Bitcoin- and Ether-backed funds by 21Shares and Cosmos Asset Management, the latter of which witnessed postpones in the roll-out in April caused by a still-unnamed service provider requiring more time to facilitate the release.

Three ETFs, a Bitcoin and Ether ETF by 21Shares, as well as a Bitcoin ETF by Cosmos were eventually made available for public trading in early May this year, taking the pioneering role in the list of crypto ETFs in Australia. Cosmos later introduced an Ether-backed fund on May 31.

The same as like 3iQ funds, the underlying assets for the Cosmos ETFs are investments in a direct manner into the Canadian Purpose Bitcoin and Ether ETFs, while the funds issued by 21Shares received the backing of Bitcoin and Ether reserves held in cold storage by Coinbase.

One different point to note is reported that 3iQ claims to possess the minimum expense ratio throughout six ETFs at 1.2% – 0.05% lower compared to the 21Shares and Cosmos ETFs, each with an expense ratio of 1.25%.

The three original funds by 21Shares and Cosmos experienced some minor rough patches upon releasing trading-wise, only recorded $1.3 million in volume on the day of the roll-out, far under the forecasted $1 billion of expected inflows. The two 21Shares funds received a total of around $936,500 of total inflows, while Cosmos’ Bitcoin fund received just over $398,000.