K2 Asset Management has appointed State Street Australia Limited as the fund administrator in Australia for the Cosmos Purpose Ethereum Access ETF (Cboe: CPET). CPET’s underlying asset is the Purpose Ethereum ETF which is managed by Purpose Investments and quoted on the Toronto Stock Exchange. The Purpose Ethereum ETF has been established to buy and hold substantially all of its assets in long-term holdings of Ethereum. CPET will track the total return performance of the Purpose Ethereum ETF, with the unique structure giving investors an efficient way to gain exposure to the Ethereum asset class on an Australian regulated exchange. The deal follows State Street’s earlier appointment as the fund administrator and custodian in Australia for the Cosmos Purpose Bitcoin Access ETF (Cboe: CBTC), Australia’s first cryptocurrency ETF ultimately backed by physically settled Bitcoin.
