- VanEck’s Bitcoin ETF will list on the Australian Securities Exchange, marking Australia’s entry into the global Bitcoin ETF wave.
- The company has highlighted the growing demand for Bitcoin among advisers and investors.
Australia is set to join the global Bitcoin ETF wave as the VanEck Bitcoin ETF lists on the Australian Securities Exchange (ASX) this Thursday, Bloomberg reported. This marks a significant step for the country’s crypto market following the adoption of cryptocurrency ETFs in the US and Hong Kong.
The asset management firm VanEck has received approval from ASX Ltd., the primary operator of Australia’s stock market. Arian Neiron, VanEck’s CEO for the Asia-Pacific region, has emphasized the growing demand for Bitcoin among advisers and investors.
Neiron mentioned that Bitcoin is an emerging asset that many advisers and investors want to access. He highlighted that the ETF provides a regulated, transparent, and familiar investment opportunity for investors interested in the digital currency.
See Related: Australia’s First Spot Bitcoin ETF To Launch On June 20
Growing Trend In Bitcoin ETFs
The introduction of the VanEck Bitcoin ETF in Australia comes amid the success seen in the US, where Bitcoin ETFs have amassed $58 billion this year alone. Major financial players like BlackRock and Fidelity Investments have launched their own Bitcoin ETFs, contributing to this growth. Similarly, Hong Kong introduced spot ETFs for Bitcoin and Ether in April, although they have seen less interest compared to the US offerings.
Additionally, in Australia, other local players, such as BetaShares Holdings Pty and DigitalX, are preparing to list their Bitcoin ETFs on the ASX. The previous round of Bitcoin ETFs launched two years ago on CBOE Australia, the country’s junior bourse, experienced mixed results. However, the anticipation surrounding the new listings on the more prominent ASX is significantly higher, fueled by the recent rally in Bitcoin prices and increased investor interest.
The listing of the VanEck Bitcoin ETF on the ASX is expected to enhance the visibility and accessibility of Bitcoin investments in Australia. As global interest in cryptocurrency ETFs continues to rise, Australia’s entry into this market signals a growing acceptance and recognition of digital assets within the traditional financial system.
