VanEck comes out on top! ASX approves listing of first Bitcoin spot ETF

Australia’s largest stock exchange will usher in the first Bitcoin spot ETF. Asset management company VanEck announced that its Bitcoin spot ETF has been approved by the Australian Securities Exchange (ASX) and is expected to be officially listed and open for trading on June 20.

According to the official statement, the trading code of VanEck’s Bitcoin Spot ETF is “VBTC” and is “the lowest-cost Bitcoin ETF in Australia.”

VanEck also said that since the company currently provides similar ETFs in the United States and Europe, it intends to use its professional knowledge and infrastructure to provide Australian investors with first-class cryptocurrency solutions.

Public information shows that the trading volume of the Australian Securities Exchange (ASX) accounts for four-fifths of the country’s stock transactions, while Australia’s CBOE, the second largest exchange, only accounts for less than one-fifth. Therefore, the market We are looking forward to the upcoming listing of the Bitcoin spot ETF on the ASX.

VanEck resubmitted the listing application for Bitcoin spot ETF to the Australian authorities in February this year. Another digital currency company Digital X Ltd. also submitted the application at the same time. A spokesperson for BetaShares once revealed, The company is working to launch a cryptocurrency spot ETF.

It is worth noting that as early as 2022, two Bitcoin ETFs were listed on the Australian CBOE for the first time. Among them, the ETF launched by the asset management company Cosmos was listed due to poor performance in less than a year. market; as for the Global X 21Shares Bitcoin ETF, the current asset management scale reaches US$107 million.

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