Australian Crypto Giants Say They Aren t Threatened By Bigger Players banklesstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from banklesstimes.com Daily Mail and Mail on Sunday newspapers.
Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year.
Sunrise co-host David Koch has described cryptocurrencies as a bad investment idea even though Dogecoin has surged by more than 19,000 per cent in just one year.
Dogecoin, co-created as a joke by 26-year-old Australian Jackson Palmer, was in May 2020 worth just 0.38 of an Australian cent.
As of Monday morning, one unit of this social-media fuelled cryptocurrency was worth 73.23 cents, with its value multiplying by 191.7 times or 19,171 per cent compared with a year ago, and has continued soaring since last week.
VanEck and BetaShares Await Approval for Aussie Bitcoin ETF
Last Updated: 06 May 2021
As Australians venture deeper into the crypto market, fund managers in the country are racing to seek approval from regulators for the first Bitcoin ETF.
Two companies that have submitted formal proposals for review and approval by the Australian Securities Exchange (ASX) are VanEck and BetaShares. The move comes despite reports in May suggesting the regulator remains wary of signing-off on a bitcoin ETF.
Plans to launch Bitcoin ETF
The regulator has confirmed that several investment companies have been making plans to launch Bitcoin ETFs. The chief executive for VanEck in the Asia-Pacific, Arian Neiron, stated that the crypto market was growing and if the ASX approved the ETFs, it would create a safe regulated space for investors.
Wealthy Australians are increasingly investing their family fortunes in digital assets, as the conservative go unconventional and alternative investments become mainstream.