VanEck’s spot Bitcoin ETF (VBTC) has formally launched on the Australian Securities Alternate (ASX), Australia’s largest inventory market. The ETF was permitted earlier this week and is now obtainable for buying and selling, offering Australian buyers with a simplified and safe strategy to acquire publicity to Bitcoin.
NEW: VanEck's spot #Bitcoin ETF formally went reside on Australia's largest inventory trade 🇦🇺 pic.twitter.com/m0gehtEd70
— Bitcoin Journal (@BitcoinMagazine) June 20, 2024
“ASX welcomes VBTC to the trade!” introduced ASX. “Congratulations to the VanEck Australia group for launching the primary crypto ETF on ASX.”
The launch of VanEck’s Bitcoin ETF on ASX gives a extra accessible choice for buyers preferring conventional inventory exchanges over crypto exchanges. This ETF, which carries a administration charge of 0.59%, permits buyers to realize 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 through crypto exchanges, buying and selling models with publicity to Bitcoin through an ETF on an trade like ASX means you’re capable of purchase and promote these models via a conventional brokerage account, simplifying the method and opening the chance to extra Australians,” mentioned Andrew Campion, ASX’s normal supervisor of funding merchandise and technique.
Earlier this month, the Monochrome Asset Administration’s Bitcoin ETF started buying and selling on the Cboe Australia trade, which has thus far 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