- Australian asset managers have continued to dip their toes into the spot Bitcoin ETF market, with a second fund being approved for trading on the Australian Stock Exchange (ASX).
- DigitalX, a blockchain-focussed investment firm, is set to release its DigitalX Bitcoin ETF (BTXX) for trading on Friday July the 12th.
- Meanwhile, VanEck’s Bitcoin ETF saw over US $1m in trading volume within its first day on the ASX.
The Bitcoin ETF era has well and truly reached Aussie markets, with a second spot fund preparing for launch on the nation’s biggest stock exchange. Despite a rocky month for the crypto market, institutional appetite for Bitcoin hasn’t ceded, with asset manager DigitalX receiving approval to list its BTC-based ETF later this week.
Related: Final Approval of Spot Ethereum ETF Expected to Enable Trading Next Week, Following Multiple Amended S-1 Filings
DigitalX Bitcoin ETF to be Listed this Friday
The spot ETF is set to go live on the ASX on this Friday, July the 12th, at the start of market trading (10 am). DigitalX Bitcoin ETF, ticker BTXX, will become the second spot fund directly holding BTC to be listed on the ASX in the past month.
The company’s CEO, Lisa Wade, was bullish on the ETF’s potential and the impact such products can make on the Aussie crypto market.
…This is a watershed moment for us as a business and for the Australian digital asset investment market. The DigitalX Bitcoin ETF is a spot ETF product that provides ASX customers with direct access to Bitcoin via a regulated and liquid fund structure.
Lisa Wade, DigitalX The fund’s asset custody and issuance will be managed by K2 Asset Management in partnership with DigitalX, while 3iQ has also been added to the mix to help promote the ETF across Aussie customers.
VanEck ETF Sees Solid Trading Volume as Betashares Moves to Enter Scene
Less than a month ago, international investment manager VanEck reached Australian shores to offer the ASX’s very first spot crypto ETF. The product, the VanEck Bitcoin ETF (VBTC) has got off to a decent start, seeing US $1.3m (AU $1.93m) in volume (about 450x less than its nine US counterparts).
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VanEck Australia’s Head of Investments and Capital Markets, Jamie Hannah, spoke about the importance of Bitcoin ETFs in advancing the crypto industry.
A lot of investors are interested in the asset class…but a lot of people have been concerned about buying through Bitcoin exchanges…so if an already-existing regulatory fund or exchange is offering [Bitcoin] it gives legitimacy to the underlying asset class and allows investors some sort of security and safety.
Jamie Hannah, VanEck According to reports, Australian asset managers Betashares are also looking to launch their own spot Bitcoin ETF in the coming months.
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