As Australia sees record-breaking ETF launches, these CEOs recommend a cautious approach

November 6, 2021 | By | Reply | 24 Readers More

The launch of Australia’s first crypto-focused ETFs this week was met with great fervor and excitement. Both ETFs managed to have record-breaking early trading numbers. In fact, the latest Beta Shares’ ASX-listed  ‘CRYP’ ETF raked in over $42 million within the first day. It surpassed all previous launches on the exchange.

Even though a range of crypto-focused products is lined up to be launched, BetaShares CEO Alex Vynokur expressed caution towards the cryptocurrency industry.

While talking to Business Insider Australia, the exec noted that the success regarding crypto-focused ETFs hinted at “considerable” demand for digital asset investment products. However, he also mentioned, the asset class was a risky one to meddle with. Vynokur said,

“We would also like to stress the importance of diversification and as such, investments in digital assets should be…

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