Bitcoin ETF: Australia Set to Approve Its First Spot BTC ETF
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According to a local report released on Tuesday, the ASX Clear, Australia’s primary capital market regulator, has four participants ready to meet the strict margin requirements necessary to cover settlement risks for BTC.
Three of these participants are institution-focused, while the last is a “significant retail clearing participant willing to provide the 42% margin demanded by ASX Clear.”
The ASX’s chief risk officer, Hamish Treleaven, confirmed that the organization has gotten “our minimum number of clearing participants, and that means we are good to go.”
That said, Treleaven will inform the market tomorrow of the agency’s decision for approval, which will allow the approved participants seven days to “prepare for the new product.”
That said, the Cosmos Asset Management Bitcoin ETF, one of the participants due for approval, will be available on the Cboe equities trading exchange on April 27. The report also noted that the Cosmos BTC ETF is a “fund of funds,” considering it invests in the Purpose Bitcoin ETF trading in Canada.
Key Bitcoin Levels to Watch — April 21
Bitcoin has kickstarted the projected bullish trend to the $48.5 top this morning, with a clean footing above the shorter ascending trendline and the daily 100 EMA. The market now awaits some bullish impetus to build its momentum over the coming days.
That said, the benchmark cryptocurrency has until the end of the month to actualize this projection, as it remains to be seen how the benchmark cryptocurrency could pull this off. Regardless, all bearish attempts would likely not make it past the $41K to $40K region in the coming weeks.
Meanwhile, my resistance levels are at $43,000, $44,000, and $45,000, and my key support levels are at $41,000, $40,000, and $39,000.
Total Market Capitalization: $1.94 trillion
Bitcoin Market Capitalization: $803.5 billion
Bitcoin Dominance: 41.3%
Market Rank: #1
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