Australia's first Bitcoin ETF (VBTC) launched on the country's main exchange, the ASX, with $1.3 million in trading volume on its first day. This is significantly less than the debut trading of Bitcoin ETFs in the United States, where the turnover was $4.5 billion. 📉

Investment firm VanEck, which issued VBTC, expressed optimism about the future of the product, despite the difference in the size of the markets.

“We have received a significant amount of interest from retail and professional investors to gain exposure to Bitcoin through the ASX,” said VanEck Deputy Head of Investments and Capital Markets, Jamie Hannah.

VBTC was trading at $13.24 when the market opened and closed the trading day at $13.34, with 96,476 shares trading during the day, according to ASX data.

VBTC closed the trading day at $20.01.