The ASX exchange listed VanEck Bitcoin ETF on Thursday as the exchange’s first spot bitcoin ETF.
ASX is a top equity exchange in Australia, managing about 80% of the local trades. As of May, ASX had a domestic market capitalization of $2.6 trillion, its website showed.
The VanEck Bitcoin ETF, which trades under the VBTC ticker symbol. $VBTC operates as a feeder fund, allowing investors to gain exposure to bitcoin by investing in the U.S.-listed VanEck Bitcoin Trust (HODL).
“While it has been possible to trade Bitcoin via crypto exchanges, trading units with exposure to Bitcoin via an ETF on an exchange like ASX means you’re able to buy and sell those units through a traditional brokerage account, simplifying the process and opening the opportunity to more Australians,” Andrew Campion, general manager of investment products and strategy of ASX, said in a statement.
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