VanEck’s spot Bitcoin ETF (VBTC) has formally launched on the Australian Securities Trade (ASX), Australia’s largest inventory market. The ETF was accredited earlier this week and is now obtainable for buying and selling, offering Australian buyers with a simplified and safe option 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 staff for launching the primary crypto ETF on ASX.”
The launch of VanEck’s Bitcoin ETF on ASX gives a extra accessible possibility for buyers preferring conventional inventory exchanges over crypto exchanges. This ETF, which carries a administration payment of 0.59%, permits buyers to realize publicity to Bitcoin with out immediately holding the BTC, thereby lowering the complexities and dangers related to direct possession.
“Whereas it has been doable to commerce Bitcoin by way of crypto exchanges, buying and selling models with publicity to Bitcoin by way of an ETF on an trade like ASX means you’re capable of purchase and promote these models by way of 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 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
