Australian Fund Firms Are Expecting To Launch Local NFT’s
After successful launch of the Bitcoin backed NTF’s, similar offers are planned to be developed by a several Australian fund managers and they expect to bring them to the market by mid next year.
Due to some regulatory restrictions over asset custody in the country, crypto ETFs cannot yet be operated in Australia. Despite this, local investment firms are expecting some changes to be applied to this sector by the next year, as it was announced the corporate regulators are currently reviewing the possibility of such funds to resume operating in the future.
Alex Vynokur, chief executive of $20 billion ETF provider Betashares, is expecting to finally establish an Australian Bitcoin ETF when the authority’s regulation allows.
“At the moment, we’re seeing some stats in Australia that well over a million Australians own an investment in cryptocurrencies directly,” he said. “We do think that over time we will see Bitcoin and hopefully other cryptocurrency e
