The Australian Securities and Investments Commission has clarified its position regarding Bitcoin (BTC)-linked exchange-traded funds.
According to a Feb. 12 report by the Australian Financial Review, the commission addressed the subject after previously rejecting a Bitcoin ETF initiative by local company Cosmos Capital.
Per the report, Cosmos CEO James Manning claimed that ASIC “have a policy — which they have not released — which says they do not want an exchange traded product, an MIS, listed on an exchange.”
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However, ASIC commissioner Cathie Armour told the Senate select committee on financial technology Friday that a Bitcoin ETF is possible, so long as there are appropriate rules in place in the market on which it is traded:
“For any products to be quoted on exchange markets in Australia, the particular market needs to have in place rules that facilitate the quoting of products […] Not all markets have rules in place that do that. […] These products can be
