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DOMAINS TOKEN-G

Ronald Maguire

10 May 2022 198 Read Crypto , Bitcoin , Altcoins

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Australian Cryptocurrency ETFs Begin With Low Volumes

Investors were cautious amid the intense opening day volatility of three cryptocurrency funds. The ETFS 21Shares Bitcoin ETF had comparable volumes, while the ETFS 21Shares Ethereum ETF had about $150,000 in its first hour of trading.

Volumes were well below the expected $1 billion capital for these ETFs. Bitcoin fell to levels not seen since 2020 on Thursday, with the total cryptocurrency market value losing 19% overnight.

ETF Securities chief trading officer Kanish Chugh said trading was relatively stable. “The extreme volatility of cryptocurrencies has pushed some investors interested in cryptocurrencies to the sidelines and wait for calm. This is a challenging market for a cryptocurrency ETF launch,” Chugh said.

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