coinspress.com
The Australian Securities Exchange (ASX), Australia's biggest stock market, has given the thumbs up to its first-ever Bitcoin spot exchange-traded fund (ETF) that is set to commence trading on June 20.
VanEck manages the ETF whose name is VanEck Bitcoin ETF (VBTC) and it stems from the success of the U.S.’s VanEck Bitcoin Trust (HODL) introduced on January 11 this year.
The CEO for Asia Pacific at VanEck, Arian Neiron, pointed out the increasing demand in Australia for regulated and transparent investment options providing exposure to Bitcoin.
According to Neiron, “This approval is a significant step as VBTC becomes ASX’s first spot Bitcoin ETF.”
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In addition, two other Bitcoin ETFs have already been launched in Australia despite it being the first: Global X 21 Shares Bitcoin ETF (EBTC) in April 2022 and Monochrome Bitcoin ETF (IBTC) on June 4th which was listed by Cboe Australia exchange.
This shows a growing interest in and acceptance of bitcoin investment opportunities in Australia.