In the upcoming week, a significant event in the cryptocurrency market is set to captivate the attention of the community. Australia’s primary stock exchange is poised to introduce its first Bitcoin (BTC) ETF, marking a milestone in the country’s trading landscape. ASX Ltd, the operator of the stock exchange, has approved the listing of the VanEck Bitcoin ETF, with the official launch scheduled for Thursday as announced by VanEck in a recent press release.
Arian Neiron, the CEO of VanEck in the Asia-Pacific region, expressed enthusiasm for the increasing interest in Bitcoin as a burgeoning asset class. He emphasized the importance of offering investors access to Bitcoin through a regulated, transparent, and familiar investment vehicle like an ETF.
This development in Australia comes at a time when U.S.-based Bitcoin ETFs have garnered substantial assets, reaching a total of $58 billion. Notable financial institutions such as BlackRock Inc. and Fidelity Investments have also entered the market alongside VanEck. While Hong Kong approved spot ETFs for Bitcoin and Ethereum earlier this year, they have yet to gain the same level of traction as their U.S. counterparts.
In addition to VanEck, other Australian companies like BetaShares Holdings Pty and DigitalX Ltd. are gearing up to list their Bitcoin ETFs on the country’s main stock exchange. This follows the initial launch of a Bitcoin ETF on Australia’s junior exchange CBOE Australia two years ago.
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