VanEck’s spot Bitcoin ETF (VBTC) has formally launched on the Australian Securities Trade (ASX), Australia’s largest inventory market. The ETF was authorised earlier this week and is now accessible for buying and selling, offering Australian traders with a simplified and safe method to achieve publicity to Bitcoin.
NEW: VanEck’s spot #Bitcoin ETF formally went dwell on Australia’s largest inventory alternate 🇦🇺 pic.twitter.com/m0gehtEd70
— Bitcoin Journal (@BitcoinMagazine) June 20, 2024
“ASX welcomes VBTC to the alternate!” announced ASX. “Congratulations to the VanEck Australia group for launching the primary crypto ETF on ASX.”
The launch of VanEck’s Bitcoin ETF on ASX affords a extra accessible possibility for traders preferring conventional inventory exchanges over crypto exchanges. This ETF, which carries a administration price of 0.59%, permits traders to achieve publicity to Bitcoin with out straight holding the BTC, thereby lowering the complexities and dangers related to direct possession.
“Whereas it has been attainable to commerce Bitcoin by way of crypto exchanges, buying and selling items with publicity to Bitcoin by way of an ETF on an alternate like ASX means you’re capable of purchase and promote these items by a conventional brokerage account, simplifying the method and opening the chance to extra Australians,” stated Andrew Campion, ASX’s normal supervisor of funding merchandise and technique.
Earlier this month, the Monochrome Asset Management’s Bitcoin ETF started buying and selling on the Cboe Australia alternate, which has to date bought over 54 bitcoin price $5.3 million AUD.
Monochrome Bitcoin ETF (Ticker: $IBTC) AUM as of 19/06/24 pic.twitter.com/TjtHmn0jVF
— Monochrome (@MonochromeAsset) June 20, 2024