K2 Asset Management has appointed a subsidiary of State Street Corp. to be the administrator for their Cosmos Purpose Ethereum Access ETF (CPET). CPET will look to offer investors in Australia the first physical Ether ETF following a scheme that invests in an off-shore fund with holdings in Ethereum. CPET will follow the the Purpose Ethereum ETF with the goal of tracking the total return performance. A quote from State Street says, “Cryptocurrencies remain a new frontier for investors in Australia and globally, bringing with them unique operating complexities that require deep knowledge, experience and technology.”
Being the first of its kind, CPET is looking to give investors efficient exposure to Ethereum on an Australian platform.