This week, three new crypto ETFs will begin trading in Australia.

After a previous delay was granted the go-ahead this week, and new ETFs entered the market, investors in Australia will have more options for spot cryptocurrency exchange-traded funds (ETFs).

The most recent upgrade was released late on Monday, when Cboe Australia published a series of market notifications revealing that three funds that had been delayed will begin trading on May 12. Cosmos Asset Management has proposed a Bitcoin (BTC) ETF, while 21Shares has launched BTC and Ether (ETH) spot ETFs.

On April 26, the Cboe Australia exchange delayed the listing of all three funds just hours before they were scheduled to go live owing to “normal checks,” according to the firm.

At the time, a “service provider downstream” needed more time to support the launch of the products, which was thought to be a big broker or other major financial institution, according to 21Shares.

The debut of a new competitor in the ETF market is an excellent moment to launch your own ETF. On April 28, 3iQ, the Canadian company that offers Bitcoin and Ether spot ETFs on the Toronto Stock Exchange (TSX), submitted two offer notices to the Australian Securities Exchange (ASX).

The notifications described potential plans by the company to sell units of its Bitcoin and Ether ETFs on the Cboe Australia exchange. It will give exposure to crypto assets by purchasing existing funds on the TSX, similar to Cosmos’ ETF, which invests in the Canadian Purpose Bitcoin ETF.

It’s unclear when 3iQ’s money will be available, but with the announcement of the Cosmos and 21Shares funds’ listings this week, it’s unlikely 3iQ will win the race to become Australia’s first cryptocurrency ETF.

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