Two of the funds just got the green light to list in the country in May, after regulatory approval.
The companies behind the Cosmos Purpose Ethereum Access ETF, Cosmos Purpose Bitcoin Access ETF, and Cosmos Global Digital Miners Access ETF have applied to withdraw their listings to Cboe Australia, according to letters released on November 2.

The decision to withdraw the listings reflects the impact of the crypto winter on the demand for crypto assets, not the faith of the management teams in the future of the space, according to reports. Each of the three funds has a net asset value of less than $1 million.

On October 31, Cosmos requested that its Bitcoin and Ether ETFs be halted from trading. One Managed Investment Funds Limited also separately requested a trading suspension for the Digital Miners ETF.

Two of the funds received the green light to operate in the country as recently as May after winning regulatory approval, Cointelegraph reported. For the first Bitcoin ETF listing in Australia, Cosmos received the minimum of four market participants to support the 42% margin requirements needed to cover risk. At the time, local players predicted inflows of up to $1 billion for the asset class.

According to a recent report from CryptoCompare, the average daily trading volume for institutional crypto products fell 34.1% to $61.3 million in October. The average daily volumes of almost all the products covered in the report decreased during the month from -24.3% to -77.5%.

October Bitcoin-based products saw weekly net flows of $8.37 million on average, while Bitcoin-based short products saw the largest outflows, averaging $5.03 million, according to the report. .

The price drop has an impact on other publicly traded crypto funds. In October, Valkyrie Funds announced plans to close the Valkyrie Balance Sheet Opportunities ETF, a crypto investment product that provides indirect exposure to BTC.

The fund was delisted from the Nasdaq stock market on October 31, with remaining investors receiving a cash distribution equal to the net asset value of the shares held. Valkyrie said the decision was part of an ongoing product review as the company aims to “better meet customer demand.”

Source: CoinTelegraph