Australia’s biggest stock exchange, the Australian Securities Exchange (ASX), has given the green light to its first spot Bitcoin exchange-traded fund (ETF), which is set to start trading on June 20.
The ETF, named VanEck Bitcoin ETF (VBTC), will be issued by investment firm VanEck.
This development comes shortly after the firm received approval to offer spot Bitcoin ETFs, known as VanEck Bitcoin Trust (HODL), in the US on January 11. VanEck’s CEO for the Asia-Pacific region, Arian Neiron, emphasized the growing demand for Bitcoin exposure in Australia, particularly through a “regulated, transparent, and familiar investment vehicle.”
“We acknowledge that Bitcoin is a nascent asset class that many advisors and investors want to access,” he stated.
