As a researcher with a background in finance and experience following the digital asset market, I am thrilled about the upcoming listing of VanEck’s Bitcoin ETF (VBTC) on the Australian Securities Exchange (ASX). This is a significant development for investors in Australia who have been eagerly anticipating a regulated and accessible way to invest in Bitcoin through a listed vehicle.
Starting June 20, the Australian Securities Exchange (ASX) will feature VanEck’s Bitcoin ETFs for trading. VanEck’s success in listing these products in US markets with the US Securities and Exchange Commission’s approval has been swiftly followed by ASIC’s permit for ASX listing, granted just a few months later.
The desire for Bitcoin ETFs in Australia grew stronger as similar initiatives took shape in the United States several months prior. VanEck, a potential provider, reportedly received heightened interest from brokers and financial advisors regarding the feasibility of launching an Australian Bitcoin ETF.
Arian Neiron, the CEO of VanEck in the Asia Pacific region, shared in a previous press announcement, “Since the SEC’s decision in the US, we’ve noticed a marked surge in inquiries and requests from advisors and brokers regarding our application to list a Bitcoin ETF on ASX. The interest in investing in Bitcoin through a listed product tradable on the Australian Stock Exchange has been growing steadily. Several of our clients have informed us that their own clients are prepared and eager to make an investment.”
In the near future, investing in bitcoin through ASX-listed ETFs will be a reality. Neiron emphasized in a weekend release that these ETFs offer a regulated, transparent, and familiar investment avenue for investors. Moreover, by managing all the intricacies behind acquiring, storing, and securing digital assets, VanEck BTC (VBTC) makes investing in bitcoin more accessible and relieves investors of the need to grapple with its technical complexities.
VanEck will be the pioneer in bringing its Bitcoin ETFs to the Australian Securities Exchange (ASX), while other providers such as Monochrome, Global X, DigitalX, and BetaShares have previously introduced Bitcoin ETFs on secondary exchanges within the country. Notably, Monochrome’s IBTC Bitcoin ETF debuted on the Cboe Exchange, Australia’s second-largest stock exchange, on June 4, 2022. Additionally, Global X’s EBTC Bitcoin ETF was launched in 2022. DigitalX and BetaShares have also announced plans to list their respective ETFs on the ASX soon.
Image by Patty Jansen from Pixabay
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2024-06-16 20:09