The race for crypto ETF market share is heating up between Australia and Hong Kong. In June, two Bitcoin ETFs launched in Australia, following six Bitcoin and Ethereum ETFs that launched in Hong Kong in April. Monochrome Asset Management was the first Australian ETF to directly hold Bitcoin, with VanEck launching its product later in June. Both jurisdictions have expansion plans, with Monochrome eyeing the broader Asian market and Hong Kong aiming for mainland China. The goal for both is to accumulate local assets, a process that may take longer than it did for their U.S. counterparts.