Key Takeaways
- Wholesale investors can now access over 200 crypto-based derivatives.
- Australian regulators have updated regulations and rules for crypto assets and service providers such as exchanges.
- Spot Bitcoin and Ethereum ETFs have launched in Australia for the first time this year.
Cryptocurrency exchange Kraken has announced that it offers a new suite of crypto-based derivatives to wholesale investors in Australia as institutional appetite for crypto ramps up in the Land Down Under.
Kraken in Australia
As per a Nov. 3 post from Kraken, the exchange has launched crypto-based derivatives for wholesale clients through its Australian financial services licensed broker. Australian institutions can now gain exposure to over 200 assets without holding them. Kraken added:
“[…]we are offering multi-collateral support (including fiat, stablecoin and crypto) to be held in one of the most robust crypto custodial solutions available.”
The offering also provides trading strategies and risk management tools for enhanced asset security.
According to Jonathon Miller, Kraken’s General Manager for Australia and the Rest of the World, Australian wholesale investors are eager to leverage “advanced trading strategies.”
He adds that the new “premium product” will meet investors’ needs and help them “advance in their crypto journey.” Kraken notes this is a big step as the exchange continues to expand in Australia, which includes the newly launched Kraken Custody Services for institutional clients.
Australia Crypto ETFs
Spot Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) have been slowly launching in Australia through 2024, and so far, they’ve experienced mild success.
Monochrome’s newly launched Bitcoin ETF, IBTC, currently has $18 million AUD, or roughly $12 million in assets under management (AUM). That’s up a few million from just a couple of weeks ago.
VanEck’s VBTC, which trades on the Australian Securities Exchange (ASX), has accumulated an estimated $46 million AUD, or roughly $30 million, in AUM since launching in June 2024.
Australia’s first spot ETH ETF, Monochrome’s IETH, has seen $554,000 AUD, or just $365,00, since launching on Oct. 14, 2024.
Eddie is a gaming and crypto writer at CCN. Covering the often weird and wonderful world of Web3 with an adoring, but skeptical eye.
Prior to CCN, Eddie has spent the past seven years working his way through the crypto, finance, and technology industry. He began with PR and journalism with Bitcoin PR Buzz and BitcoinNews.com, eventually working his way to become a copywriter with a dozen firms, including the likes of Polkadot before returning to journalism in 2023.
Having studied Radio production and journalism at University in the UK, Eddie spent a few years making podcasts and presenting on a local London radio station as he built up his writing chops.
A lifelong skateboarder, Eddie can often be found at the skatepark or touring the streets looking for something new to try. That, or kicking back playing JRPGs on his original PSP.
