Australia’s largest stock exchange, the Australian Securities Exchange (ASX), agreed to list its first bitcoin exchange-traded fund (ETF) on its platform on June 20. The issuer will be VanEck, and the instrument will be called VanEck Bitcoin ETF (VBTC). ).
BREAKING: 🇦🇺 Australia’s largest stock exchange, ASX, has accepted the top spot #Bitcoin European Training Foundation. pic.twitter.com/M4kApaqfhW
– Bitcoin Magazine (@BitcoinMagazine) June 17, 2024
The leading Australian exchange’s decision follows the success of Bitcoin ETFs in the United States, where 11 such instruments have been listed since January. Hong Kong also launched Bitcoin ETFs after the United States.
“Demand for access to Bitcoin via an ASX-traded listed instrument is growing, and many of our clients have told us that their clients are already in a position to get an allocation ready to invest,” said Ariane Neron, CEO and Managing Director of VanEck Asia Pacific. “
Australia already had spot Bitcoin ETFs, with the first to debut in Australia being the Global On June 4th. On the second largest stock exchange in Australia, Cboe Australia.
The arrival of a Bitcoin ETF on a major exchange in Australia is a major milestone. As the country’s largest exchange, the ASX provides greater visibility, credibility and access to exposure to Bitcoin for both institutional and retail investors.
These approvals indicate growing acceptance and interest in Bitcoin investment products within the Australian market and around the world, with most countries likely to follow suit.