Bitcoin ETF

Bitcoin

For the first time, an exchange-traded fund (ETF) that invests directly in Bitcoin will be listed on Australia’s main stock market. This marks the beginning of a new series of such listings, following the introduction of similar products in the US and Hong Kong.
ASX Ltd., the primary exchange operator in Australia, has <a href="https://www.bloomberg.com/news/articles/2024-06-15/first-bitcoin-etf-to-list-on-australia-s-bourse-in-global-wave" target="_blank" rel="noopener noreferrer nofollow">approved</a> the VanEck Bitcoin ETF, which will begin trading on Thursday, according to a press release from VanEck.&nbsp;
Arian Neiron, VanEck’s CEO for the Asia-Pacific region, stated, “We recognize Bitcoin is an emerging asset class that many advisers and investors want to access.” He highlighted that the ETF provides Bitcoin exposure through a regulated and transparent investment vehicle.
The launch in Australia comes after US Bitcoin ETFs, including those from BlackRock Inc., Fidelity Investments, and VanEck, amassed $58 billion this year. While Hong Kong also approved spot ETFs for Bitcoin and Ether in April, these have not attracted as much interest as their US counterparts.
Sydney-based BetaShares Holdings Pty and DigitalX Ltd. are also preparing to list Bitcoin ETFs on Australia’s main stock market. Although initial Bitcoin ETFs launched on Australia’s smaller exchange, CBOE Australia, two years ago saw mixed results, there is growing optimism that the higher profile of the ASX and the recent rally in Bitcoin will drive increased interest and success.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/06/15/bloomberg-analyst-updates-spot-ethereum-etf-launch-date/" target="_blank" rel="noopener noreferrer nofollow">Bloomberg Analyst Updates Spot Ethereum ETF Launch Date</a>
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Bitcoin ETF Debuts on Australia’s Exchange Amid Global Surge

The Crypto Times

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