First Spot Bitcoin ETF Making Its Way to Main Australian Stock Exchange
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VanEck BTC ETFs will be offered beginning June 20 on the Australian Securities Exchange (ASX), Australia’s largest stock exchange. VanEck also offers its BTC ETFs in the US markets with the US SEC’s blessings. Now, it has received permission from ASIC only a few months later to list on ASX.
Demands for BTC ETFs were rising in Australia as action in the US began months ago. VanEck faced increased inquiries from brokers and advisers about the possibility of an Australian BTC ETF.
Arian Neiron, VanEck’s APAC CEO, stated in a press release from a few months ago, “Since the US SEC ruling, we’ve experienced a significant uptick in queries and requests from the adviser and broker community regarding our submission to ASX to launch a Bitcoin ETF. The demand for access to Bitcoin via a listed vehicle traded on ASX has been increasing, and many of our clients have told us that their clients are already positioned to have an allocation ready to invest.”
In a few days, that will come to fruition. Neiron also mentioned in a release this Saturday that ETFs on ASX will let investors access bitcoin through “a regulated, transparent, and familiar investment vehicle.” He also stated, “VBTC (VanEck BTC) also makes bitcoin more accessible by managing all the back-end complexity. Understanding the technical aspects of acquiring, storing, and securing digital assets is no longer necessary.”
While VanEck will be the first issuer to take its BTC ETFs to ASX, other providers have already offered BTC ETFs on a secondary exchange in the country. Recently, the Monochrome BTC ETF (IBTC) launched on the Cboe Exchange, Australia’s second-largest stock exchange. It went live on June 4. The Global X 21 Shares BTC ETF (EBTC) launched in 2022. DigitalX and BetaShares also plan to offer their ETFs on ASX soon.
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