Australia’s largest stock market, the Australian Securities Exchange (ASX), approved the listing of the first Bitcoin exchange-traded fund (ETF) on its platform on June 20. The issuer will be VanEck, and the instrument will be called VanEck Bitcoin ETF (VBTC). ).
BREAKING: 🇦🇺 Australia’s largest stock exchange, the ASX has approved its first listing #Bitcoin An ETF. pic.twitter.com/M4kApaqfhW
– Bitcoin Magazine (@BitcoinMagazine) June 17, 2024
The decision of the leading Australian stock exchange came after the success of Bitcoin ETFs in the United States, where 11 such instruments have been listed since January. Hong Kong also launched Bitcoin ETFs following the US.
Arian Neiron, CEO and Managing Director at VanEck Asia Pacific, said, “The demand for access to Bitcoin through an ASX-listed vehicle is growing, and many of our customers have told us that their customers are already in a position to own a share. ready to invest.”
Australia already has Bitcoin ETFs, and the first in Australia was the Global X 21 Shares Bitcoin ETF (EBTC), launched in April 2022. Recently, the Monochrome Bitcoin ETF (IBTC) was approved and began trading on June 4. on the second largest exchange in Australia, the Cboe Australia exchange.
The arrival of the Bitcoin ETF on Australia’s main exchange is a milestone. As the country’s largest stock market, the ASX brings greater visibility, credibility, and access to Bitcoin exposure for both institutional and retail investors.
These approvals show the growing acceptance and interest in Bitcoin investment products within the Australian market and around the world, and more countries are likely to follow suit.
