The Cosmos Purpose Ethereum Access ETF (CPET) will commence trading on the Cboe Australia market from May 31, 2022.

An announcement by Cboe Australia, a regulated stock exchange, said Australian investors could gain access to the Purpose Ether ETF through the Cosmos Purpose Ethereum Access ETF (CPET) launching today on the exchange. Since its introduction on the Toronto Stock Exchange in April 2021, the Purpose fund has accumulated more than AUD$570 million in assets under management, and is said to be the world’s first Ethereum ETF. (Cboe)

The Purpose Ether ETF is a spot Ether ETF and does not hold derivatives of Ether. The fund’s Ether assets are held in the custody of Gemini, which uses a global compliance platform to secure the fund’s Ether assets.

Issued by fund manager Cosmos Asset Management, the Cosmos Purpose Ethereum Access ETF (CPET) will invest in the Purpose Ether ETF.

Cosmos Asset Management CEO Dan Annan said CPET offered Australians a best-in-class experience.

“CPET makes it easy for Australians to introduce Ethereum to their portfolio by eliminating the need for Ethereum wallets and cold storage, which are often the limiting factor for those interested in investing in cryptocurrencies,” Annan said. “Now, adding Ether exposure is as familiar and easy for Australian investors as trading shares.”

“As investors continue to seek cryptocurrency exposure, it’s important the market provides them with choice and access,” said Cboe Australia CEO Vic Jokovic. “CPET offers Australians with unique access to the world’s first physically settled Ether ETF, and we’re excited to watch its progress.”

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