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VanEck’s spot Bitcoin ETF\u00a0(VBTC)\u00a0has officially launched on the Australian Securities Exchange (ASX), Australia’s largest stock market. The ETF was approved earlier this week and is now available for trading, providing Australian investors with a simplified and secure way to gain exposure to Bitcoin.<\/p>\n
\nNEW: VanEck's spot #Bitcoin<\/a> ETF officially went live on Australia's largest stock exchange \ud83c\udde6\ud83c\uddfa pic.twitter.com\/m0gehtEd70<\/a><\/p>\n
— Bitcoin Magazine (@BitcoinMagazine) June 20, 2024<\/a><\/p><\/blockquote>\n
“ASX welcomes VBTC to the exchange!” announced<\/a> ASX. “Congratulations to the\u00a0VanEck Australia\u00a0team for launching the first crypto ETF on ASX.”\u00a0<\/p>\n
The launch of VanEck’s Bitcoin ETF on ASX<\/a>\u00a0offers a more accessible option for investors who prefer traditional stock exchanges over crypto exchanges. This ETF, which carries a management fee of\u00a00.59%,\u00a0allows investors to gain exposure to Bitcoin without directly holding the BTC, thereby reducing the complexities and risks associated with direct ownership.<\/p>\n
“While it has been possible to trade Bitcoin via crypto exchanges, trading units with exposure to Bitcoin via an ETF on an exchange like ASX means you\u2019re able to buy and sell those units through a traditional brokerage account, simplifying the process and opening the opportunity to more Australians,” said\u00a0Andrew Campion, ASX’s general manager of investment products and strategy.<\/p>\n
Earlier<\/a> this month, the\u00a0Monochrome Asset Management’s Bitcoin ETF<\/a>\u00a0began trading on the Cboe Australia exchange, which has so far purchased over 54 bitcoin worth $5.3 million AUD.<\/p>\n
\nMonochrome Bitcoin ETF (Ticker: $IBTC<\/a>) AUM as of 19\/06\/24 pic.twitter.com\/TjtHmn0jVF<\/a><\/p>\n
— Monochrome (@MonochromeAsset) June 20, 2024<\/a><\/p><\/blockquote>\n