Cosmos Asset Management is looking to delist two of its cryptocurrency exchange-traded funds (ETFs) from the Cboe stock exchange in Australia owing to the downturn in digital assets that started at the end of last year.
Cosmos, based in Sydney, intends to delist its Purpose Bitcoin Access ETF (CBTC) and Purpose Ethereum Access ETF (CPET), with a combined asset value of about A$1.1 million ($710,000). Launched with much fanfare, the investment firm’s bitcoin ETF was the first crypto fund to be listed on Cboe when it debuted in April. “Trading on the funds will continue to be halted pending the outcome of the application to Cboe,” said a letter by Hollie Wight, company secretary.
“While we strongly believe in the asset class, we are all disappointed with this result; however, we will continue to follow the process in the best interest of all unit holders,” Dan Annan, CEO at Cosmos and former BlackRock executive, wrote in an email, according to Bloomberg.