Australian The company has been approved for listing on the Australian Securities Exchange (ASX), Australia’s second largest stock exchange. Bitcoin ExchangeThe company sells exchange-traded funds (ETFs) on its platform.
BREAKING: 🇦🇺 Australia’s largest stock exchange approves second spot #Bitcoin ETFs. pic.twitter.com/SY5vIGEm4a
— Bitcoin Magazine (@BitcoinMagazine) July 9, 2024
On July 9, the ASX gave the green light to digital asset managers. DigitalX to Launch Spot Bitcoin ETFThe new ETF will begin trading on July 12th under the ticker BTXX.
This comes just weeks after it was approved by the ASX. The first Bitcoin ETF The firm listed the VanEck Bitcoin ETF in June, a move that follows the successful debut of several bitcoin ETFs in the U.S. starting in early 2024.
Australia has seen momentum for Bitcoin ETFs over the past year, with the country’s first spot Bitcoin ETF, the 21Shares Bitcoin ETF (EBTC), launched in April 2022 and trading on the Cboe Australian Exchange.
Most recently, in June, Monochrome Bitcoin ETF (IBTC) Trading has also begun at CBOE. Now the ASX is following suit by approving its second bitcoin ETF, after VanEck’s product became the first last month.
The emergence of a growing number of new bitcoin investment vehicles in the Australian market reflects growing interest in bitcoin, with investors increasingly seeking to invest in it through regulated fund structures rather than owning bitcoin directly.
ETFs offer an easy way to invest in the asset class without the need to store Bitcoin directly, and many expect more countries to approve Bitcoin ETFs as the product gains popularity and regulatory approval expands.
another Bitcoin ETFsAustralia’s main stock exchange signals a favorable change in attitude towards Bitcoin assets in one of the world’s leading financial markets.
