Blockchain-focused asset manager DigitalX has secured regulatory approval to launch its spot Bitcoin exchange-traded fund (ETF), marking the second Bitcoin ETF to trade on the Australian Securities Exchange (ASX). Set to debut under the ticker BTXX on July 12 at 10 am local time, the approval was hailed as a “watershed moment” by DigitalX CEO Lisa Wade. Wade emphasized that the DigitalX Bitcoin ETF is a spot ETF product, offering ASX customers direct access to Bitcoin via a regulated and liquid fund structure. DigitalX’s Chair, Toby Hicks, noted the approval as a reflection of the growing and developing digital assets market in Australia.

DigitalX partnered with investment management firm K2 Asset Management to serve as the responsible entity and issuer of the spot Bitcoin ETF. Additionally, the company will collaborate with cryptocurrency-focused investment firm 3iQ to promote and distribute the product across Australia and internationally. This launch follows the recent approval of VanEck’s spot Bitcoin ETF by the ASX on June 15, which started trading on June 20. Despite VanEck’s ETF closing its first trading day with $1.3 million in volume, it still lags behind the average daily volume seen by the nine United States spot Bitcoin ETFs. Australian fund manager Betashares is also reportedly pursuing a Bitcoin ETF on the ASX.