In an effort to provide Australian investors with more options, BetaShares Holdings Pty Ltd. and DigitalX Limited are getting ready to release their own Bitcoin ETFs on the ASX.
According to an article from Bloomberg, the Australian Securities Exchange (ASX) will launch the VanEck Bitcoin ETF, the first spot exchange-traded fund (ETF) for Bitcoin, on June 20 after receiving regulatory permission.
The spot Bitcoin ETF, the VanEck Bitcoin ETF (VBTC), will be issued by venture firm VanEck, concurring to a press discharge shared with Cointelegraph. It comes as it were months after the firm gotten endorsement to start exchanging spot Bitcoin ETFs, the VanEck Bitcoin Believe (HODL), in the Joined together States on January 11.
According to Arian Neiron, CEO of VanEck’s Asia-Pacific operations, with this ETF, Australian investors will have more options for regulated and transparent Bitcoin investments. The ETF aims to provide a recognizable vehicle within the traditional financial market framework.
“We accept a developing number of advisors and financial specialists are interested in getting to Bitcoin as an asset class,” Neiron said.
This action follows the approval of Bitcoin ETFs in the United States earlier this year, with some attracting more than $58 billion in assets. However, similar ETFs launched for trading in Hong Kong for Bitcoin and Ethereum have not received the same level of investor interest.
It is anticipated that these reforms will increase the market access and liquidity of cryptocurrencies, opening the door to a variety of investors who may be hesitant to make direct cryptocurrency investments.
With the ASX’s acceptance of the VanEck Bitcoin ETF, Australia’s financial sector is beginning to accept bitcoins and other cryptocurrencies more and more.
This is in line with the global trend of incorporating digital currencies into traditional investment portfolios, driven by growing interest from institutions and market demand. When the ETF begins trading, it will likely attract a lot of attention, leading to more digital asset-related developments in Australia’s financial markets.
Australia’s second-largest stock exchange, Cboe Australia Exchange, has approved and begun trading the Monochrome Bitcoin ETF (IBTC).
On June 4, the markets opened on the Cboe Australia exchange, and the Monochrome Bitcoin ETF began trading.
Source: Julian Fahrer
According to Monochrome, IBTC assets are held offline using a crypto custody solution that complies with “Australian institutional custody regulatory standards” and is held on a device that is not connected to the internet.
The Global X 21 Shares Bitcoin ETF (EBTC) made its Australian make a big appearance in April 2022, making it the to begin with Bitcoin ETF item.
