VanEck’s spot Bitcoin ETF (VBTC) has formally launched on the Australian Securities Change (ASX), Australia’s largest inventory market. The ETF was permitted earlier this week and is now accessible for buying and selling, offering Australian traders with a simplified and safe technique to achieve publicity to Bitcoin.
NEW: VanEck’s spot #Bitcoin ETF formally went stay 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 crew for launching the primary crypto ETF on ASX.”
The launch of VanEck’s Bitcoin ETF on ASX provides a extra accessible choice for traders preferring conventional inventory exchanges over crypto exchanges. This ETF, which carries a administration charge of 0.59%, permits traders to realize publicity to Bitcoin with out instantly holding the BTC, thereby lowering the complexities and dangers related to direct possession.
“Whereas it has been attainable to commerce Bitcoin by way of crypto exchanges, buying and selling items with publicity to Bitcoin by way of an ETF on an trade like ASX means you’re capable of purchase and promote these items by 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 to this point bought over 54 bitcoin value $5.3 million AUD.
Monochrome Bitcoin ETF (Ticker: $IBTC) AUM as of 19/06/24 pic.twitter.com/TjtHmn0jVF
— Monochrome (@MonochromeAsset) June 20, 2024
