VanEck Lists Bitcoin ETF (VBTC) on the Australian Securities Exchange (ASX)

The Australian Securities Exchange listed the VanEck Bitcoin ETF as its first spot Bitcoin ETF, enabling investors to access Bitcoin through traditional brokerage accounts.

The Australian Securities Exchange (ASX) has listed the VanEck Bitcoin ETF (ASX:VBTC) as the first spot Bitcoin ETF on the exchange, allowing investors to access Bitcoin through their traditional brokerage accounts.

The VanEck Bitcoin ETF, which trades under the ticker symbol “VBTC,” had total net assets of approximately 982,850 AUD ($655,560) as of Wednesday, according to the bourse's website. The ETF, which is designed to track the performance of Bitcoin, enables investors to gain exposure to the digital asset.

The VBTC ETF operates as a feeder fund, which differs from previous methods that relied on cryptocurrency exchanges. This mechanism allows investors to access Bitcoin exposure by investing in the U.S.-based VanEck Bitcoin Trust (NYSE:HODL).

“This is a historic moment for Australian investors, as the launch of the VanEck Bitcoin ETF marks the first time that investors will be able to access Bitcoin through their traditional brokerage accounts, making it easier than ever before to buy and sell Bitcoin,” said Andrew Campion, ASX's general manager of investment products and strategy, in a statement.

“ETFs are designed to streamline the buying and selling process, and this is especially valuable for investors who want to quickly and efficiently adjust their exposure to different asset classes, such as digital assets, throughout the trading day.”

The listing of the VanEck Bitcoin ETF comes as Australia's major equity exchange, which handles around 80% of local trades, is set to play a crucial role in the domestic market with a market capitalization of $2.6 trillion as of May.

Earlier this year, ASX announced that it had received applications from several issuers, including BetaShares and DigitalX, to launch the first batch of bitcoin ETFs.

Meanwhile, Cboe Australia, the country's second-largest stock exchange, approved the Monochrome Bitcoin ETF (ASX:IBTC) in June. Australian investors have already seen the launch of spot Bitcoin ETFs, with offerings like the Global X 21Shares Bitcoin and Ethereum ETFs being listed on Cboe back in April 2022.

In the United States, 11 spot crypto ETFs led the way with a total of $56.06 billion in net assets as of January, smashing through initial expectations. Following close behind, Hong Kong launched spot ETFs for Bitcoin and Ether in April, which have seen total net assets collectively zoom past the $1.38 billion mark.

The listing of the VanEck Bitcoin ETF on the ASX marks a significant step forward in the accessibility of digital assets for Australian investors, aligning with global trends in embracing cryptocurrency-based investment opportunities.

News source：https://www.kdj.com/cryptocurrencies-news/articles/vaneck-lists-bitcoin-etf-vbtc-australian-securities-exchange-asx.html

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