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The Australian Securities Exchange (ASX) has launched its first spot Bitcoin exchange-traded fund (ETF), the VanEck Bitcoin ETF, trading under the ticker symbol VBTC. As of Wednesday, the ETF had total net assets of approximately 982,850 AUD ($655,560), according to VanEck’s website. VBTC operates as a feeder fund, giving investors exposure to Bitcoin by investing in the U.S.-listed VanEck Bitcoin Trust (HODL).
Andrew Campion, ASX’s general manager of investment products and strategy, emphasized that while trading Bitcoin via crypto exchanges has been possible, the new ETF simplifies the process for Australians by enabling them to buy and sell units through traditional brokerage accounts. This move aims to broaden Bitcoin investment access within Australia.
ASX, a leading equity exchange in Australia, handles about 80% of the country’s local trades and boasts a domestic market capitalization of $2.6 trillion as of May. The launch of VBTC is part of a broader initiative, with several other issuers like BetaShares and DigitalX also submitting applications to list Bitcoin ETFs on ASX this year. This development signifies a growing trend towards mainstream adoption and increased accessibility of Bitcoin investments in traditional financial markets.
