Australian fund management company BetaShares' new crypto company exchange-traded fund (ETF) smashed Australian Securities Commutation (ASX) records inside the first 15 minutes of listing.

The Capital Appreciation Portfolio Diversification (CRYP) fund enables investors to gain exposure to fifty pure-play-listed crypto companies from effectually the globe, such equally exchanges, mining companies and equipment firms.

Some of the top companies on CRYP include Galaxy Digital (12.0%), Marathon Digital (11.three%), Coinbase Global (10.7%), Silvergate Capital (10.ii%) and MicroStrategy (9.four%).

Investors blasted through the existing ETF record of $5.8 million ($8 million Australian dollars) within minutes and soared to a total of almost $31.iii million ($42.v million AUD) by the end of opening 24-hour interval, signaling massive pent upward demand for crypto exposure on the ASX.

Ryan McCall, CEO of Australian crypto investment platform Zerocap, said that CRYP's success didn't come as a surprise, given Commonwealth of australia's appetite for crypto over the past 12 months.

"Nosotros've had records broken in our business this year too; demand from high net worth individuals, family offices and advisers has really ramped upwards, and that looks set to advance with institutional adoption."

He added, "A spot Bitcoin ETF in Australia isn't far away, followed past Ethereum and potentially other cryptocurrencies."

The Australian Securities and Investment Committee has just given a provision greenish light for the launch of Bitcoin and Ether ETFs, provided a long list of guidelines is followed.

CRYP's success mirrors the launch of the ProShares Bitcoin Strategy ETF, which marked the beginning Bitcoin (BTC) futures-based ETF in the United states. The October launch saw effectually $1 billion in volume on its opening day, with 24.313 1000000 BITO shares changing easily.

Still, U.South. regulators appear to be reluctant to corroborate a spot Bitcoin ETF (which holds bodily Bitcoin rather than futures contracts), placing Commonwealth of australia ahead in the game.

Related: New BetaShares ETF to track Coinbase, Riot and MicroStrategy

McCall said that Bitcoin futures ETFs "are an inferior product to spot Bitcoin, with price asunder from the underlying asset. Hopefully, the regulators here see that and nosotros go straight to spot."

Before this week, the Republic Bank of Australia announced plans to support trading of 10 crypto avails on its app, which has half-dozen.5 million active users.