VanEck’s Spot Bitcoin ETF Goes Live on Australia’s Biggest Stock Exchange

As a seasoned crypto investor with a keen interest in the global Bitcoin market, I can’t help but be thrilled about the recent developments Down Under. The long-awaited debut of the VanEck Bitcoin ETF (VBTC) on the Australian Securities Exchange (ASX) marks a significant milestone for us Aussie investors looking for an easy and secure way to gain exposure to the world’s most popular cryptocurrency.As a crypto investor, I’m thrilled to share that the Australian Securities Exchange (ASX) listed its inaugural spot-bitcoin Exchange Traded Fund (ETF) last Thursday. With the global interest in investing in digital currencies continuing to surge, this is an exciting development for those of us seeking a more conventional avenue to participate in the crypto market.

The VanEck Bitcoin ETF, denoted as VBTC, became active on the Australian Securities Exchange (ASX), handling approximately 90% of Australia’s stock market transactions. The ASX granted its approval for listing the product earlier in the week.

VBTC experienced a 1% increase from its initial price and concluded the trading day at A$20.06 ($13.4). This Australian ETF saw a total of 99,791 shares exchanged hands. Notably, it functions as a feeder fund, granting investors access to bitcoin through investment in Bitcoin Trust (HODL), which is a US-listed ETF on Cboe.

Monochrome Asset Management’s Bitcoin ETF (IBTC) began trading on the Cboe Australia exchange on June 4, which is a smaller competitor to ASX. In contrast to VBTC, this fund holds bitcoin assets directly. On a regular basis, IBTC trades approximately 55,000 units with an average daily cash volume of around A$550,000 since its inception.