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/australia-approves-first-bitcoin-etf-on-leading-stock-exchange/" data-wpel-link="internal">Australia Approves First Bitcoin ETF on Leading Stock Exchange</a><br></p>
<p class="p1" style="text-align: justify"><strong>Australia’s</strong> leading stock exchange, the Australian Securities Exchange, approved its first <a href="https://en.coin-turk.com/michael-van-de-poppe-its-time-for-bitcoin-to-rise/" data-wpel-link="internal">Bitcoin</a> exchange-traded fund (ETF), which closed its first trading day with a volume of $1.3 million. This is significantly lower than the first trading day of US-based spot Bitcoin ETFs, which saw a total trading volume of $4.5 billion across 10 funds, each averaging $450 million.</p> 
<h2 class="p1" style="text-align: justify" id="australia-and-the-bitcoin-market">Australia and the Bitcoin Market</h2> 
<p class="p1" style="text-align: justify">VanEck, the issuer of the VanEck Bitcoin ETF <strong>(VBTC)</strong>, expressed optimism about the product’s growth potential despite the market size difference compared to US Bitcoin ETFs. Jamie Hannah, VanEck’s Deputy Head of Investments and Capital Markets, stated:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“Although the Australian market is much smaller than the US and our flow is largely retail rather than institutional, we might follow a similar path. We have noted a strong interest from a significant number of individual and professional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to access Bitcoin via ASX.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify"><strong>ASX</strong> <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> showed that VBTC opened at $13.24 and closed the day at $13.34, with 96,476 shares traded.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-363449 size-full" src="https://coin-turk.com/wp-content/uploads/2024/06/vbtc.webp" alt="" width="1920" height="951"></p> 
<h2 class="p1" style="text-align: justify" id="statement-from-a-renowned-figure-on-bitcoin-etfs">Statement from a Renowned Figure on Bitcoin ETFs</h2> 
<p class="p1" style="text-align: justify">On June 15, VanEck CEO for the Asia-Pacific region, Arian Neiron, stated that demand in Australia has increased, particularly through a regulated, transparent, and familiar investment vehicle. He shared the following insights:</p> 
<blockquote> 
 <p class="p1" style="text-align: justify">“We recognize that Bitcoin is an emerging asset class that many advisors and investors want to access. VBTC also makes Bitcoin more accessible by managing all the back-end complexities. Understanding the technical aspects of acquiring, storing, and securing crypto assets is no longer necessary.”</p> 
</blockquote> 
<p class="p1" style="text-align: justify">Despite being the first spot Bitcoin ETF listed on the <strong>ASX</strong>, two more Bitcoin ETF products have been launched in Australia. Recently, the Monochrome Bitcoin ETF was approved and began trading on Cboe Australia, the country’s second-largest stock exchange. In April 2022, the Global X 21Shares Bitcoin ETF became the first Bitcoin ETF product launched in Australia.</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/australia-approves-first-bitcoin-etf-on-leading-stock-exchange/" data-wpel-link="internal">Australia Approves First Bitcoin ETF on Leading Stock Exchange</a></h5>

Australia Approves First Bitcoin ETF on Leading Stock Exchange

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