VanEck's Bitcoin ETF (VBTC) has officially launched on the Australian Securities Exchange (ASX), Australia's largest stock market. The exchange-traded fund (ETF) was approved earlier this week and is now available for trading, providing Australian investors with a simplified and secure way to gain exposure to Bitcoin.
New: VanEck Place #Bitcoin The ETF has been officially launched on Australia's largest exchange 🇦🇺 pic.twitter.com/m0gehtEd70
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024
“ASX welcomes VBTC to the exchange!” Announce Ask. “Congratulations to the VanEck Australia team for launching the first cryptocurrency ETF on the ASX.”
Launching… launching… taking off VanEck's Bitcoin ETF on the ASX It offers a more accessible option for investors who prefer traditional stock exchanges over cryptocurrency exchanges. This ETF, which carries a management fee of 0.59%, allows investors to gain exposure to Bitcoin without holding Bitcoin directly, thus reducing the complexities and risks associated with direct ownership.
“While it has previously been possible to trade bitcoin via cryptocurrency exchanges, trading units with exposure to bitcoin via an exchange-traded fund such as the ASX means you are able to buy and sell those units through a traditional brokerage account, which simplifies the process and opens up trading. “An opportunity for more Australians,” said Andrew Campion, managing director of investment products and strategies at the ASX.
Earlier this month, Mono Asset Management Bitcoin ETF Trading has begun on the Cboe Australia exchange, which has so far purchased more than 54 bitcoins worth A$5.3 million.
Monochrome Bitcoin ETF (Symbol: $IBTC) Assets under management as of 06/19/24 pic.twitter.com/TjtHmn0jVF
– Monochrome (@MonochromeAsset) June 20, 2024
