{"id":1722648,"date":"2022-11-03T06:30:16","date_gmt":"2022-11-03T10:30:16","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1722648"},"modified":"2022-11-03T07:49:39","modified_gmt":"2022-11-03T11:49:39","slug":"bitcoin-ethereum-etfs-delisted-in-australia-as-crypto-winter-continues","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bitcoin-ethereum-etfs-delisted-in-australia-as-crypto-winter-continues\/","title":{"rendered":"Bitcoin, Ethereum ETFs Delisted in Australia as Crypto Winter Continues"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbitcoin-ethereum-etfs-delisted-in-australia-as-crypto-winter-continues%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1722648&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>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.<\/p>\n<p>Cosmos, based in Sydney, intends to delist its Purpose Bitcoin Access ETF (CBTC) and Purpose <a href=\"https:\/\/www.theepochtimes.com\/t-ethereum\">Ethereum<\/a> Access ETF (CPET), with a combined asset value of about A$1.1 million ($710,000). Launched with much fanfare, the investment firm\u2019s <a href=\"https:\/\/www.theepochtimes.com\/t-bitcoin\">bitcoin<\/a> ETF was the first crypto fund to be listed on Cboe when it debuted in April. \u201cTrading on the funds will continue to be halted pending the outcome of the application to Cboe,\u201d said a letter by Hollie Wight, company secretary.<\/p>\n<p>\u201cWhile 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,\u201d Dan Annan, CEO at Cosmos and former BlackRock executive, wrote in an email, according to Bloomberg.<\/p>\n<p>Since bitcoin\u2019s all-time high of $67,553 on Nov. 10, 2021, the asset has fallen nearly 70 percent, to currently trade at $20,453, as of Nov. 1, 2022. Ethereum has similarly fallen over 67 percent, and is trading at just over $1,560. Digital assets have lost a combined $2 trillion in value over 12 months, and has dulled investor interest in the segment.<\/p>\n<p>Cosmos is also filing to delist the Global Digital Miners Access ETF, which manages around $405,000.<\/p>\n<h2>Going Back to Mining<\/h2>\n<p>Mawson Infrastructure, the owner of Cosmos, disclosed in a filing with the U.S. Securities and Exchange Commission that the company suffered an impairment relating to its Cosmos subsidiary of $US1.1 million during the six months to June 30, 2022. Following this, Mawson transferred ownership of the asset to a third party.<\/p>\n<p>\u201cWe recognise that ETFs are a scale business and a long game,\u201d Mr James Manning, chief executive of Mawson, told the Australian Financial Review. \u201cWe didn\u2019t want to be in that long game, and it made sense for us to exit.\u201d The company plans on focusing on its core bitcoin mining and infrastructure operations.<\/p>\n<p>At the moment, Mawson operates bitcoin-mining facilities in New South Wales, Australia, and Texas, Georgia, and Pennsylvania in the United States.<\/p>\n<p>Mawson, which is listed on Nasdaq, has lost over 93 percent of its value since the beginning of the year, and is currently trading at $0.44. At its height, Mawson was trading at $16.49 per share, on Nov. 3, 2021.<\/p>\n<p>Decades-high inflation and elevated energy prices have also dealt a blow to the crypto mining industry.<\/p>\n<p>\u201cThere are a lot of different issues in motion. Obviously, the global recession is looming, on top of inflation and rising prices of electricity,\u201d Christopher Perceptions, founder of PerceptForm and CEO of NoCodeClarity, told TechCrunch.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-naveen-athrappully\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/NaveenAthrappully.jpg\" alt=\"Naveen Athrappully\" \/><\/a><\/p>\n<p>Follow<\/p>\n<\/div>\n<p>Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.\n<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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<\/p>\n","protected":false},"author":1,"featured_media":1695609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1722648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1722648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1722648"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1722648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1695609"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1722648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1722648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1722648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}