Australian The Australian Securities Exchange (ASX), the largest stock market, Bitcoin ExchangeThe company will launch a Bitcoin ETF (exchange-traded fund) on its platform on June 20. The issuer will be VanEck, and the product will be named VanEck Bitcoin ETF (VBTC).
BREAKING: 🇦🇺 Australia’s largest stock exchange ASX approves first spot #Bitcoin ETFs. pic.twitter.com/M4kApaqfhW
— Bitcoin Magazine (@BitcoinMagazine) June 17, 2024
The decision by Australia’s major stock exchange comes after the success of Bitcoin ETFs in the United States, where 11 Bitcoin ETFs are listed. Published from JanuaryHong Kong has also followed the US lead by launching a Bitcoin ETF.
“We are seeing increased demand to access bitcoin through exchange-traded products traded on the ASX, with many of our clients telling us they already have allocations in place that are ready to be invested,” VanEck Asia Pacific CEO and managing director Ariane Neylon said.
Australia already has a spot Bitcoin ETF, with the first to debut in Australia being the Global X21 Shares Bitcoin ETF (EBTC), which launched in April 2022. More recently, the Monochromatic Bitcoin ETF (IBTC) was approved, Trading begins on June 4th On Cboe Australian Exchange, Australia’s second largest stock exchange.
Arrival of Bitcoin ETFs Listing on Australia’s main exchange is a significant milestone. As the country’s largest stock exchange, the ASX will give Bitcoin greater exposure, credibility and accessibility to both institutional and retail investors.
These approvals signal growing acceptance and interest in Bitcoin investment products in the Australian market and around the world, with most countries likely to follow suit.
