As a seasoned crypto investor with a strong background in the Australian financial markets, I’m thrilled about DigitalX’s upcoming launch of the spot Bitcoin ETF on the ASX. With over a decade of experience in this rapidly evolving industry, I’ve seen firsthand the challenges and complexities involved in managing digital assets.
DigitalX Limited, the Australian digital asset fund manager, has secured approval from regulators for its Bitcoin spot exchange-traded fund (ETF), which is set to debut on the ASX in the near future.
Beginning on Friday, July 12, 2024 at 10:00 AM in the Australian Eastern Standard Time zone, trading for the newly introduced Bitcoin ETF labeled “BTXX” will commence.
DigitalX Teams Up with K2 Asset Management and 3iQ
DigitalX teamed up with ASX-listed K2 Asset Management, who will act as the administrator and sponsor for the ETF. With their expertise in managing listed exchange-traded funds (ETFs) in Australia, compliance systems, and adherence to local financial services regulations, K2 is well-equipped to support this venture.
DigitalX will team up with 3iQ to expand the reach of their new ETF, collaborating on marketing and distribution efforts in Australia and beyond. With 3iQ’s successful history in handling and disseminating digital asset ETFs worldwide, this partnership is expected to bring significant benefits.
In a press release on July 9, I, Lisa Wade, DigitalX CEO, expressed my excitement about our new offering. We are now able to provide the Australian market with a spot Bitcoin Exchange-Traded Fund (ETF). This is a pivotal moment for us as a company and for the digital asset investment sector in Australia.
Wade additionally pointed out that DigitalX boasts a lengthy global history in handling digital assets, and he looked forward to imparting their knowledge to Australians, enabling them with a secure platform for investing in Bitcoin.
As a crypto investor based in Australia, I was thrilled to learn about their innovative solution. It allows me to invest in Bitcoin easily without having to handle the complexities of managing digital wallets myself. This approach is both cost-effective and secure, making it an attractive option for those looking to enter the world of cryptocurrencies.
Pioneering Spot Bitcoin ETF on ASX
A DigitalX-listed Bitcoin ETF tracking spot prices is a new addition to the ASX, marking the first such product in nearly seven years. This development comes on the heels of the introduction of similar ETFs in the United States during the early part of 2023.
Investors can now gain exposure to Bitcoin through the newly launched ETF identified by the ticker “BTXX.” This fund provides a regulated and liquid investment vehicle, simplifying the process of adding digital assets to diversified portfolios.
Toby Hicks, Chair of DigitalX, looked back on the company’s 10-year milestone since its ASX listing with enthusiasm. “It’s a thrill to mark a decade since DigitalX joined the ASX ranks,” Hicks shared. “Moreover, we are elated that our application for a Bitcoin ETF on the ASX to be traded as a spot product has been approved.”
I commend K2 Asset Management for their cooperative approach and underscore DigitalX’s dedication to pioneering digital asset investments in a way that adheres to regulations, ensuring safety, and maintaining security.
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2024-07-10 00:28