Australia’s ASX Lists its First Spot Bitcoin ETF

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The VanEck Bitcoin exchange-traded fund yesterday became the first spot Bitcoin ETF to be listed on the Australian Securities Exchange (ASX).

According to VanEck’s website, the fund, which trades under the ticker symbol VBTC, had total net assets worth 982,850 AUD ($655,560) as of Wednesday. VBTC acts as a feeder fund, allowing investors to invest in the US-listed VanEck Bitcoin Trust (HODL) and gain exposure to Bitcoin.

ASX’s general manager of investment products and strategy, Andrew Campion, stated that this listing provides more Australians with the opportunity to easily buy and sell Bitcoin units through a traditional brokerage account.

ASX, which manages 80% of local trades, is the top equity exchange in Australia with a domestic market capitalization of $2.6 trillion as of May, according to its website.

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