Cryptocurrency Update

ETF Securities launching crypto ETF

Cboe Australia (formerly Chi-X) will soon list ETF Securities’ bitcoin and ethereum exchange-traded funds offering investors access to cryptocurrency investments. ETF Securities joined forces with 21Shares, a European fund manager, to launch ETFS 21 Shares Bitcoin ETF and ETFS 21Shares Ethereum ETF. Some crypto ETFs have been permitted in Australia since late 2021 after the Australian Securities and Investments Commission (ASIC) allowed their development and creation.

Report shows consumers using crypto for groceries

Per user spending on the crypto.com Visa card had double-digit growth in 2021 versus 2020, with groceries the main use, followed by fashion, transport, recreation, hotels and food. Aldi and Woolworths were the top two favourite supermarkets crypto spenders shop at.

The main areas of growth were 50 per cent growth in spending on clothes and shoes, followed by an increase of 46 per cent for transport and recreation. Groceries, while still being the top area of spending, actually dropped from 62 per cent to 51 per cent in 2021, likely due to retailers and economies opening up and offering consumers more ways to spend their cryptocurrency.

Australia is a key market for these Visa cards due to a fintech-friendly environment, strong regulatory reputation and highly skilled workforce. The Visa cards are now available in over 100 jurisdictions across the globe, offering the bridge between having crypto and spending it.

 BTC Markets partners with Afterpay for Australian Fashion Week 2022

One of Australia’s largest cryptocurrency exchanges has announced its partnership with Afterpay Australian Fashion Week (AAFW) 2022. BTC Markets is to collaborate with Daniel Avakian, a Sydney designer, on an exclusive non-fungible token (NFT) based on a dress of Avakian’s in a runway show. The dress will be both physically real and in digital form, and be available for purchase.