2.7 Trillion Dollar Preparations for Bitcoin After USA and Hong Kong!
According to information provided by Bloomberg, the ASX stock exchange in Australia is preparing to open spot Bitcoin ETFs before the end of this year.
Allegedly, several companies, including VanEck, BetaShares and DigitalX, applied to establish a spot Bitcoin ETF earlier this year.
It was reported that ASX, the country's largest stock exchange, is preparing to open them for trading before the end of 2024.
The ASX stock exchange, which includes more than 2,100 companies in total, has a market value of 2.7 trillion dollars as of March 2024.
“ASX continues to engage with a group of issuers interested in establishing crypto asset-based ETFs,” an ASX spokesperson said.
Investors in Australia have been able to trade spot Bitcoin ETFs through the CBOE since 2022.
Bitcoin ETFs entered the US market at the beginning of this year with the approval of applications from world giants and attracted great attention. Shortly after this approval, Hong Kong took a similar step and gave the green light to Bitcoin and cryptocurrency ETFs.
ETFs in Hong Kong will be opened for trading as of tomorrow (April 30).
It is not investment advice
