Australia’s largest stock exchange has introduced its first spot Bitcoin (BTC) exchange-traded fund (ETF) in response to the increasing global demand for accessible cryptocurrency investment opportunities. The VanEck Bitcoin ETF (VBTC) has officially launched on the Australian Securities Exchange (ASX), which oversees 90% of the nation’s stock market operations.
VBTC debuted at A$20.06 ($13.4) and saw 99,791 shares traded on its first day, closing with a 1% increase from its opening price. This ETF serves as a feeder fund, enabling investors to participate in Bitcoin by investing in VanEck’s Bitcoin Trust (HODL), a US-listed ETF on the Cboe exchange.
The introduction of VBTC on the ASX follows the recent launch of similar spot Bitcoin products in the US and Hong Kong. While VBTC is not the first Bitcoin ETF available to Australian investors, it joins Monochrome Asset Management’s Monochrome Bitcoin ETF (IBTC) on the Cboe Australia exchange.
IBTC, which directly holds Bitcoin, has seen significant daily transaction volumes and cash transactions since its June 4 launch. Together, these ETFs represent a significant development in Bitcoin investment opportunities in Australia, offering investors diverse ways to engage with the evolving cryptocurrency market.
Please note that this article does not constitute investment advice. For access to over 300 cryptocurrencies, consider registering with Binance exchange with a 20% commission discount through this link. Stay updated with exclusive news, analytics, and on-chain data by following our Telegram and Twitter accounts.