Australia's largest stock market, the Australian Stock Exchange (ASX), approved the listing of the first bitcoin exchange-traded fund (ETF) on its platform on June 20. The issuer will be VanEck and the instrument will be called VanEck bitcoin ETF (VBTC). ).
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BREAKING: Australia's largest stock exchange ASX approved its first place twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin ETF. pic.twitter.com/M4kApaqfhW
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1802616567336747487?ref_src=twsrc%5Etfw”>June 17, 2024
The decision by the main Australian stock exchange came after the success of bitcoin ETFs in the United States, where 11 of these instruments have been listed since January. Hong Kong also launched bitcoin ETFs after the United States.
Arian Neiron, managing director and managing director of VanEck Asia Pacific, said: “Demand for access to bitcoin through an ASX-listed vehicle has been increasing, and many of our clients have told us that their clients are already positioned to have an allocation ready to invest.”
Australia already had bitcoin spot ETFs, and the first to debut in Australia was the Global x 21 Shares bitcoin ETF (EBTC), which launched in April 2022. More recently, the Monochrome bitcoin ETF (IBTC) was approved and began trading on June 4. on Australia's second largest stock exchange, the Cboe Australia exchange.
The arrival of a bitcoin ETF on Australia's main exchange is a major milestone. As the country's largest stock exchange, ASX provides greater visibility, credibility and access to bitcoin exposure for institutional and retail investors.
These approvals indicate growing acceptance and interest in bitcoin investment products within the Australian market and around the world, with most countries likely to follow suit.
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