United

Bitcoin ETF

Bitcoin

The Australian Securities Exchange (ASX) will launch its first spot Bitcoin exchange-traded fund (ETF), the VanEck Bitcoin ETF, on June 20 after receiving regulatory approval. 
Arian Neiron, CEO of VanEck’s Asia-Pacific operations, emphasized meeting Australian investors’ increasing demand for regulated and transparent Bitcoin investment options through this ETF, aiming to provide a familiar vehicle within traditional financial market structures. 
This move comes on the heels of the approval of Bitcoin ETFs in the United States earlier this year, some of which have attracted over $58 billion in assets. However, similar ETFs opened for trading in Hong Kong for Bitcoin and Ethereum have not attracted the same amount of investor attention. 
According to a <a href="https://www.bloomberg.com/news/articles/2024-06-15/first-bitcoin-etf-to-list-on-australia-s-bourse-in-global-wave#:~:text=Exchange%20operator%20ASX%20Ltd.%2C%20which,a%20press%20release%20on%20Saturday." target="_blank" rel="noreferrer noopener nofollow">Bloomberg report</a>, other firms, including BetaShares Holdings Pty. and DigitalX Ltd., are also in the process of launching their own Bitcoin ETFs to be listed on ASX, thereby adding other choices for Australian investors who want to invest in digital assets.&nbsp; 
Such developments are expected to improve the market accessibility and liquidity of cryptocurrencies, thus creating the possibility of attracting a wide range of investors who might have been reluctant to invest directly in digital currencies. 
The VanEck Bitcoin ETF approval by the ASX means that bitcoins and other cryptocurrencies are increasingly becoming accepted in Australia’s financial market.&nbsp; 
It complies with the current worldwide trend of incorporating digital currencies into typical investment portfolios due to a growing number of institutions’ interest and market demand. When the ETF starts trading, it will likely attract significant interest, opening up more developments in Australia’s financial markets involving the digital asset. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/06/12/australia-bans-online-betting-with-credit-cards-crypto/" target="_blank" rel="noreferrer noopener">Australia Bans Online Betting with Credit Cards &amp; Crypto</a> 
</blockquote>

ASX To Launch First VanEck Bitcoin ETF Post Approval

The Crypto Times

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