A spot Bitcoin exchange-traded fund will be debuting on the main stock market of Australia. This marks yet another example of bourses globally introducing the blue chip cryptocurrency.
Australia’s main stock market, ASX, has approved the VanEck Bitcoin ETF, according to a statement. The official launch will occur this week on June 20.
«Bitcoin is often called ‘digital gold’ because, like the metal, it is a potential store of value. With a long-standing and deep heritage in investing in gold, store-of-value investing is in our DNA,» VanEck said.
Global Adoption
2024 has seen a wave of markets introducing crypto ETFs with the US leading the way in a landmark approval in January. Within the Asia Pacific region, Hong Kong joined months later with the approval of both Bitcoin and Ether spot ETFs.
VanEck’s latest ETFs are the first on the ASX but not in Australia. Similar products were previously launched on CBOE Australia, the country’s junior exchange. Other local asset managers are also in line to launch their own crypto ETFs on the ASX, including BetaShares and DigitalX.
