BetaShares launches crypto innovators ETF

By Penny Pryor

BetaShares has launched a new exchange traded fund that invests in global companies at the forefront of the crypto economy. The BetaShares Crypto Innovators Fund (ASX: CRYP) set a new first day record for trading value when it launched on the Australian Stock Exchange in early November.

As a sign of the current high demand for anything related to crypto, the BetaShares ETF set a record of $39.7 million of trading value for the day, compared to the previous record of $8 million set in March 2021.

"We are excited to lead efforts to provide Australian investors with a regulated, cost effective, transparent and convenient access to the digital assets space. However, we would also like to stress the importance of diversification and as such, investments in digital assets should be considered as part of a broadly diversified portfolio," BetaShares chief executive officer, Alex Vynokur, said.

BetaShares is also currently working on a Bitcoin (1BTC) and an Ethereum (1ETH) backed exchange traded fund.