Bitcoin ETF

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/australian-stock-exchange-prepares-to-launch-spot-bitcoin-etfs/" data-wpel-link="internal">Australian Stock Exchange Prepares to Launch Spot Bitcoin ETFs</a><br></p>
<p style="text-align: justify">Recent news indicates a significant movement in Australia’s financial scene. Spot <a href="https://en.coin-turk.com/spot-bitcoin-etfs-begin-trading-in-us-stock-markets/" data-wpel-link="internal">Bitcoin</a> ETFs are preparing to debut on the main board of Australia’s largest exchange, the Australian Securities Exchange (ASX). According to sources trusted by Bloomberg, this move could materialize by the end of 2024.</p> 
<h2 style="text-align: justify" id="asx-exchange-readies-for-spot-bitcoin-etfs">ASX Exchange Readies for Spot Bitcoin ETFs</h2> 
<p style="text-align: justify">ASX is known as a giant player in Australia’s capital markets. Holding about 80% of the stock trading, the exchange is now opening its doors to spot Bitcoin ETFs. This step has attracted major issuers like VanEck and BetaShares, with many companies queuing up to list.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-325181 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-BTC-Trend.jpeg" alt="" width="1280" height="720"></p> 
<p style="text-align: justify">Justin Arzadon, head of crypto assets at BetaShares, stated that major entries in the US have proven the future of crypto assets. The company has secured ASX tickers for its spot Bitcoin and <a href="https://en.coin-turk.com/strategic-moves-by-a-crypto-whale-accumulation-and-impact-on-ethereum/" data-wpel-link="internal">Ethereum</a> ETFs. However, he emphasized that important issues like the secure storage of basic Bitcoin assets must be addressed before this move.</p> 
<h2 style="text-align: justify" id="reasons-for-choosing-asx">Reasons for Choosing ASX</h2> 
<p style="text-align: justify">The preference for ASX is also related to companies’ concerns about security. However, a specific timeline is not yet clear. This situation shows that Australia is following the steps of countries like the USA and Hong Kong. Bitcoin ETFs in the USA gathered $53 billion this year, with major names like BlackRock investing in this area.</p> 
<p style="text-align: justify">One of the driving forces behind this move is Australia’s pension market. A $2.3 trillion market could contribute to the growth of ETFs. Jamie Hannah, Vice President of Investments and Capital Markets at VanEck Australia, highlighted the importance of retirement assets, noting that self-managed super retirement programs could play a key role in this area.</p> 
<h2 style="text-align: justify" id="many-companies-ready-to-make-moves">Many Companies Ready to Make Moves</h2> 
<p style="text-align: justify">However, similar initiatives had been undertaken in Australia before. In 2022, two ETFs were launched, but one was quickly delisted. Currently, the only spot Bitcoin ETF in the country belongs to 21Shares. Alongside these moves, many companies continue to prepare to make advancements in this area.</p> 
<p style="text-align: justify">The rise of spot Bitcoin ETFs in Australia could change the country’s financial landscape. However, there are some obstacles to growth in this area. Factors like security, regulation, and investor demands need to be carefully addressed in the coming period.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/australian-stock-exchange-prepares-to-launch-spot-bitcoin-etfs/" data-wpel-link="internal">Australian Stock Exchange Prepares to Launch Spot Bitcoin ETFs</a></h5>

Australian Stock Exchange Prepares to Launch Spot Bitcoin ETFs

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