In the upcoming week, the cryptocurrency market will be closely monitoring a significant event set to take place on Thursday. Australia’s primary stock exchange is gearing up to introduce its very first Bitcoin (BTC) ETF, marking a milestone in the country’s financial landscape. ASX Ltd, the operator of the stock exchange, has approved the VanEck Bitcoin ETF for listing, with the official launch scheduled for Thursday, as announced in a press release by VanEck over the weekend.
Arian Neiron, the CEO of VanEck in the Asia-Pacific region, expressed enthusiasm for the growing interest in Bitcoin as a new and exciting asset class. He highlighted the ETF’s role in providing investors and advisors with a regulated and transparent avenue to access Bitcoin, leveraging a familiar investment vehicle. This move in Australia comes on the heels of successful Bitcoin ETF launches in the United States, with products from BlackRock Inc., Fidelity Investments, and VanEck already amassing $58 billion in assets.
While Hong Kong has authorized spot ETFs for Bitcoin and Ethereum, these have not garnered the same level of attention as their U.S. counterparts. Alongside VanEck, other Australian companies like BetaShares Holdings Pty and DigitalX Ltd. are also gearing up to list on the country’s primary stock exchange, following the initial launch of a Bitcoin ETF on the junior exchange CBOE Australia two years ago.
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