Bitcoin ETF Debuts on Australia’s Main Stock Market.

Australia’s primary stock exchange, the Australian Securities Exchange (ASX), has listed its first Bitcoin exchange-traded fund (ETF). The VanEck Bitcoin ETF, trading under the ticker symbol VBTC, made its debut on June 20, 2024, with an initial net asset value of approximately AUD 985,000 (USD 655,560). This ETF provides investors with indirect exposure to Bitcoin by functioning as a feeder fund for the U.S.-listed VanEck Bitcoin Trust  .

This milestone reflects a significant move towards mainstream acceptance of cryptocurrency investments in Australia. It allows investors to trade Bitcoin via traditional brokerage accounts, simplifying the investment process compared to direct purchases on cryptocurrency exchanges. The listing aligns with a global trend of regulated Bitcoin investment options, following similar ETF launches in the United States and Hong Kong  .

The introduction of the VanEck Bitcoin ETF on the ASX marks a critical development in the Australian financial landscape, positioning the country as a growing hub for cryptocurrency investment in the Asia-Pacific region. This move is expected to enhance market stability and liquidity, attracting more institutional and retail investors to the cryptocurrency market.

https://www.coinspeaker.com/asx-launches-its-first-ever-bitcoin-etf/