Cosmos Asset Management Intends to Delist Crypto ETFs in Australia

Cosmos Asset Management intends to apply to delist two of its cryptocurrency exchange-traded funds (ETFs) that trade on the Cboe stock exchange in Australia.

The Sydney-based investment firm intends to delist its Purpose Bitcoin Access ETF (CBTC) and Purpose Ethereum Access ETF (CPET). The funds invest in bitcoin (BTC) and ether (ETH) through the Purpose Bitcoin ETF and Purpose Ether ETF, which are listed on the Toronto Stock Exchange.

The two funds have total assets of about A$1.1 million ($710,000).

Cosmos' bitcoin ETF was Australia's first such fund when it listed on Cboe in April. It was followed by two spot ETFs offered by 21Shares shortly after.

The funds saw a muted start when they commenced trading with volumes well below expectations. The onset of the crypto winter in the ensuing months is likely to have dampened appetite further.

Read more: A Year After Debut, ProShares Bitcoin ETF Has Underperformed Market by 1.8%