The Australian securities exchange has approved its initial spot Bitcoin ETF
![spot Bitcoin ETF, The Australian securities exchange,](https://cryptonewsonlinehub.info/wp-content/uploads/2024/06/bitcoin.webp)
The Australian Securities Exchange (ASX) has given the green light for the VanEck Bitcoin ETF to commence trading on June 20th. This marks a significant milestone as ASX’s first spot Bitcoin exchange-traded fund (ETF).
VanEck, an investment firm, will be the issuer of this ETF, known as the VanEck Bitcoin ETF (VBTC), as confirmed in a press release provided to Cointelegraph. This approval follows VanEck’s recent introduction of spot Bitcoin ETFs in the United States, where the VanEck Bitcoin Trust (HODL) began trading earlier this year on January 11th.
Arian Neiron, CEO of VanEck in the Asia-Pacific region, emphasized the increasing demand for Bitcoin exposure in Australia, particularly through a regulated and transparent investment vehicle familiar to investors.
“VBTC 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,” Neiron added.
While this approval marks ASX’s first spot Bitcoin ETF, Australia has seen two other Bitcoin ETF launches over the past two years. Recently, the Monochrome Bitcoin ETF (IBTC) began trading on June 4th on the Cboe Australia exchange, the country’s second largest stock exchange. Monochrome ensures offline storage of IBTC holdings, adhering to Australian institutional custody regulatory standards.
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In April 2022, Australia welcomed its first Bitcoin ETF, the Global X 21 Shares Bitcoin ETF (EBTC), which made its debut in the market.
This approval by ASX underscores the growing acceptance and accessibility of Bitcoin within Australia’s financial markets, offering investors more avenues to engage with this emerging asset class through regulated investment instruments.