Bitcoin ETF approved on the Australian Securities Exchange
The Australian Securities Exchange (ASX) has approved the first Bitcoin exchange-traded fund (ETF) on its platform, which will be listed on June 20. The VanEck Bitcoin ETF (VBTC) will be the financial instrument provided by VanEck. This follows the successful launch of Bitcoin ETFs (exchange-traded funds) in the United States, where 11 such products have been listed since January, and in Hong Kong.
Demand for Bitcoin access is increasing
Arian Neiron, CEO of VanEck Asia Pacific, explained that demand from clients for bitcoin exposure through a listed financial instrument on the ASX is growing. In Australia, there are already spot bitcoin ETFs, i.e. funds that hold physical bitcoins. The Global X 21 Shares Bitcoin ETF (EBTC) debuted in April 2022, and the Monochrome Bitcoin ETF (IBTC) began trading on June 4 on Cboe Australia, the country's second-largest exchange.
Bitcoin ETF offers visibility and credibility
The listing of a Bitcoin ETF on the ASX, Australia's largest stock exchange, represents a significant achievement, providing institutional and retail investors with greater visibility and credibility for Bitcoin investments. These developments reflect the growing acceptance and interest in Bitcoin investment products worldwide and suggest that other countries may soon follow suit.
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