VanEck’s Spot Bitcoin ETF (VBTC) has officially launched on Australia’s largest share market, the Australian Securities Exchange (ASX). The ETF was approved earlier this week and is now available for trading, offering Australian investors a simple and secure way to gain exposure to Bitcoin.
New Arrivals: Van Eck’s Spot #Bitcoin The ETF has officially launched on Australia’s largest stock exchange 🇦🇺 pic.twitter.com/m0gehtEd70
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
“ASX welcomes VBTC to its exchange!” Announced ASX. “Congratulations to the VanEck Australia team on launching the first cryptocurrency ETF on the ASX.”
Release of VanEck’s ASX Bitcoin ETF It offers a more accessible option for investors who prefer traditional stock exchanges over cryptocurrency exchanges. With a management fee of 0.59%, the ETF allows investors to invest in Bitcoin without having to hold BTC directly, reducing the complexities and risks associated with direct ownership.
“While it has previously been possible to trade bitcoin on crypto exchanges, trading units with exposure to bitcoin via an ETF on an exchange like the ASX means those units can be bought and sold through a traditional brokerage account, simplifying the process and opening up the opportunity to more Australians,” said Andrew Campion, ASX general manager of investment products and strategy.
Before this month, Monochrome Asset Management Bitcoin ETF Trading has begun on the CBOE Australian Exchange, with over 54 Bitcoins purchased so far, worth AUD 5.3 million.
Monochrome Bitcoin ETF (Ticker: $IBTC) Assets under management as of 24/06/19 pic.twitter.com/TjtHmn0jVF
— Monochrome (@MonochromeAsset) June 20, 2024
