by Rushali 
The Australian Securities and Investments Commission has clarified that they are open to bitcoin exchange-traded funds if the investors are protected.
On Feb 12, they have rejected a BTC ETF from a company called Cosmos Capital.
Cosmos CEO James Manning has said the commission has a policy that they do not want an exchange-traded product, an MIS, listed on an exchange.
But ASIC commissioner Cathie Armour has said that bitcoin ETF is possible if there are enough rules that will govern it on Friday to Senate select committee on financial technology.
Armour said that a Bitcoin ETF could fall under the Australian Securities Exchange’s AQUA Rules, which are specifically designed for investment schemes like managed funds, ETFs, and other products. And further said that the National Stock Exchange of Australia on which the company is applying doesn’t have such rules.
Australian Securities Exchange CEO Dominic Stevens said that they are taking steps towards the crypto-related products but it needs to have a set of rules.
Reportedly, Cosmos Capital is now planning to launch the Bitcoin ETF on ACX, and if it happens Australia will get its first bitcoin ETF.
