ASX Ltd, the exchange operator that handles the bulk of the country’s stock trading, has approved the VanEck Bitcoin ETF, which will be listed on Thursday, VanEck said in a press release on Saturday.
“We believe bitcoin is an emerging asset class that many advisors and investors want to access,” Ariane Neron, VanEck’s chief executive officer in the Asia-Pacific region, said in the statement. He added that the ETF offers an investment in bitcoin “using a regulated, transparent and familiar investment vehicle.”
The listing in Australia comes at a time when U.S. bitcoin ETFs launched this year have raised $58 billion, including offerings from BlackRock Inc. and Fidelity Investments as well as VanEck. Hong Kong permitted spot ETFs for bitcoin and ether tokens in April, but they have received just a fraction of the interest of U.S. vehicles.
Sydney-based BetaShares Holdings Pty Ltd and another local player DigitalX Ltd are also in line for listing on the main Australian board. The first round of bitcoin ETFs in Australia launched two years ago on the country’s junior exchange CBOE Australia.
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The latter had mixed success, but expectations are now growing that the trend will accelerate due to the surge in the largest digital asset over the past year, as well as the high profile of the exchange.
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