The Australian Securities Exchange (ASX) has greenlit its inaugural spot Bitcoin exchange-traded fund (ETF), paving the way for the VanEck Bitcoin ETF (VBTC) to commence trading on June 20. This move positions VanEck, a prominent investment firm, as a pioneer in providing regulated Bitcoin exposure in Australia, following its successful launch of the VanEck Bitcoin Trust (HODL) in the United States earlier this year.
Arian Neiron, VanEck’s CEO for the Asia-Pacific region, highlighted the growing demand among Australian investors for accessible avenues to invest in Bitcoin. Neiron emphasized that VBTC simplifies the investment process by managing the complexities associated with acquiring, storing, and securing digital assets, thereby broadening Bitcoin’s accessibility to a wider investor base.
While VBTC marks ASX’s first spot Bitcoin ETF approval, it joins other Bitcoin investment vehicles that have recently entered the Australian market. The Global X 21 Shares Bitcoin ETF (EBTC), launched in April 2022, and the Monochrome Bitcoin ETF (IBTC), which began trading on June 4 on the Cboe Australia exchange, underscore the escalating acceptance and interest in cryptocurrency investment products across Australia.
The introduction of VBTC signifies a significant milestone in Australia’s financial landscape, offering investors regulated and transparent exposure to the burgeoning asset class of Bitcoin.
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