Australian Securities Exchange Could Approve Spot-Bitcoin ETFs Before 2024-End: Bloomberg

The Australian Securities Exchange (ASX) is predicted to give the green light to the initial batch of spot Bitcoin ETFs before the end of 2024, according to a Bloomberg report. At least two companies have submitted applications, with another in the works.As a crypto investor, I’m excited to share that according to recent reports from Bloomberg, there’s a strong possibility that the Australian Securities Exchange (ASX) will give its approval for the first spot Bitcoin ETFs before the year 2024 comes to an end. This development could significantly impact the Bitcoin market in Australia and potentially pave the way for more institutional investments in digital currencies.

In February, DigitalX Ltd., based locally, submitted an application. Similarly, VanEck re-submitted their application during the same month as they recently disclosed. Meanwhile, BetaShares from Sydney is making preparations to introduce a new product on the ASX.

In response to CoinDesk’s query in January, ASX stated that they had no new information to share beyond their previous email where they mentioned not commenting on specific investment product applications. However, they confirmed that they were still interacting with several crypto-ETF issuers who were keen on listing their products on the exchange.

Around the beginning of this month, Monochrome Asset Management based in Australia submitted an application for a bitcoin exchange-traded fund (ETF) listing to Cboe Australia, according to CoinDesk’s report. Notably, Cboe Australia is a smaller competitor of ASX. Monochrome chose Cboe Australia due to its extensive expertise in Asia and broader investor reach, among other reasons.

UPDATE (April 29, 2024, 06:55 UTC): Adds response from ASX.