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How to buy $EBTC and $EETH on the Australian market

For the first time, investors can purchase Bitcoin and Ethereum ETFs with real crypto as the underlying asset. Here is what you need to know about ETF Securities and 21Shares latest offering.

What are $EBTC and $EETH?

The promise of a crypto ETF has been headline news for years now. What started with a crusade by the Winklevoss twins developed into a futures backed Bitcoin ETF (BITO) listing on the US market. Now, the Australian market will be the first to debut real crypto ETFs with physical Bitcoin and Ethereum as the underlying assets.

ETF issuer ETF Securities teamed up with 21Shares to release two crypto ETFs on the Australian market (Cboe Australia).

$EBTC will track the price of Bitcoin while $EETH tracks Ethereum. Essentially, every dollar of the EBTC and EETH ETFs entitle holders to a dollar of bitcoin or Ethereum respectively. 

Both funds will be denominated in Australian dollars. 

Cold truth on cold storage 

Of course, the obvious question is why a crypto ETF is worth considetring, instead of directly owning crypto. 

Some investors prefer to have their equities and stocks in the same portfolio but the biggest benefit is security. 

Another advantage of the $EBTC and $EETH ETFs is that all underlying crypto is securely held. ETF Securities and 21Shares hold all crypto in cold storage with Coinbase. 

Cold storage involves taking crypto off the internet and storing it in a physical wallet (like a USB). Yes, it may be hard to imagine that storing a digital coin offline is possible but the mechanics are explained here. Crypto investors who leave their holdings on an exchange or app leave themselves most vulnerable to hacks. It is not a common occurrence but the downside is vast.

Buying on Stake

Both the $EBTC and $EETH will commence trading on the Australian market (Cboe Australia) at the market open on 12 May.

When opening a new position in a stock, the first purchase must be over A$500. This is inline with the market’s minimum marketable parcel rules.

Not a Stake customer yet?

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With Stake, you can be in the Australian market in under 5 minutes.

You can apply for an account in your own name (Individual Account) or in the name of a Company or SMSF.

What’s more, when you sign up for an Individual Account, you also get a $10 headstart on us. All you need to do is fund your account within 24 hours of it being ready.

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