Australian Securities Exchange (ASX) Approved Listing Its First Bitcoin ETF

Vaneck, a global investment firm, has announced the launch of the Vaneck Bitcoin ETF (VBTC), the first Bitcoin exchange-traded-fund on the Australian Securities Exchange (ASX). Set to commence trading on June 20, 2024, the ETF is touted as the most cost-effective Bitcoin fund exposure in Australia. Arian Neiron, Vaneck’s CEO for the Asia-Pacific region, emphasized the growing demand for Bitcoin exposure in Australia and expressed his pleasure at bringing bitcoin to the Australian market as a regulated financial product. This development follows the approval of Bitcoin ETFs by the US SEC earlier this year and the availability of Bitcoin ETNs on several European stock exchanges.