The VanEck Spot bitcoin ETF (VBTC) has officially launched on the Australian Stock Exchange (ASX), Australia's largest stock market. The ETF was approved earlier this week and is now available for trading, providing Australian investors with a simplified and secure way to gain exposure to bitcoin.
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NEW: VanEck's Place twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin The ETF officially went live on Australia's largest stock exchange pic.twitter.com/m0gehtEd70
– bitcoin Magazine (@BitcoinMagazine) twitter.com/BitcoinMagazine/status/1803741577866535355?ref_src=twsrc%5Etfw”>June 20, 2024
“ASX welcomes VBTC to the exchange!” x.com/ASX/status/1803638962625360098″>Announced ASX. “Congratulations to the VanEck Australia team for launching the first crypto ETF on the ASX.”
The launch of twitter&utm_medium=social&utm_campaign=7012e000000C4ukAAC&utm_uniqueid=22ASX0000000966&utm_date=jun-24&utm_content=&utm_term=&utm_strategy=%F0%9F%94%94″>VanEck bitcoin ETF on ASX offers a more accessible option for investors who prefer traditional stock exchanges over crypto exchanges. This ETF, which carries a 0.59% management fee, allows investors to gain exposure to bitcoin without directly owning btc, thereby reducing the complexities and risks associated with direct ownership.
“While it has been possible to trade bitcoin through crypto exchanges, trading units with bitcoin exposure through an ETF on an exchange like ASX means you can buy and sell those units through a traditional brokerage account, simplifying the process and opening up the opportunity for more Australians,” said Andrew Campion, ASX general manager of investment products and strategy.
Earlier this month, the bitcoin-etf”>Monochrome Asset Management bitcoin ETF began trading on the Cboe Australia exchange, which has so far purchased more than 54 bitcoins worth 5.3 million Australian dollars.
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Monochrome bitcoin ETF (Ticker: twitter.com/search?q=%24IBTC&src=ctag&ref_src=twsrc%5Etfw”>$IBTC) AUM as of 06/19/24 pic.twitter.com/TjtHmn0jVF
– Monochrome (@MonochromeAsset) twitter.com/MonochromeAsset/status/1803655321153577374?ref_src=twsrc%5Etfw”>June 20, 2024
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