ETFs
Australian Stock Exchange Approves First Spot Bitcoin ETF
Australian Stock Exchange Approves First Spot Bitcoin ETF
Australia’s largest stock exchange, the Australian Securities Exchange (ASX), has approved its first spot Bitcoin exchange-traded fund (ETF), which is expected to begin trading on June 20. The new ETF, named VanEck Bitcoin ETF (VBTC), will be issued by investment company VanEck.
This approval follows VanEck’s recent success in the United States, where the company launched the VanEck Bitcoin Trust (HODL), a spot Bitcoin ETF, on January 11. VanEck Asia Pacific CEO Arian Neiron highlighted the growing demand for Bitcoin exposure in Australia, particularly through regulated and transparent investment vehicles.
“We recognize that Bitcoin is an emerging asset class that many advisors and investors want to access,” Neiron said. “VBTC also makes Bitcoin more accessible by handling all the back-end complexity. Understanding the technical aspects of acquiring, storing and securing digital assets is no longer necessary.”
The approval of VBTC marks a significant milestone as it is the first spot Bitcoin ETF to be approved by the ASX. However, this is not the first Bitcoin ETF to launch in Australia. Over the past two years, two more Bitcoin ETFs have been introduced in the country.
The first Bitcoin ETF to debut in Australia was the Global on Australia’s second biggest action. scholarship, the Cboe Australia scholarship. These previous launches indicate growing acceptance and interest in Bitcoin investment products in the Australian market.