Australian Securities Exchange Welcomes New Bitcoin ETF

YEREVAN (CoinChapter.com) — DigitalX, a blockchain-focused asset manager, has received regulatory approval for its spot Bitcoin exchange-traded fund (ETF). This ETF will be the second of its kind on the Australian Securities Exchange (ASX). Trading under the ticker BTXX, the DigitalX Bitcoin ETF is set to launch on July 12 at 10 am local time.

DigitalX Bitcoin ETF Launch Announcement. Source: DigitalX Ltd

Lisa Wade, CEO of DigitalX, announced,

“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.”

DigitalX Spot Bitcoin ETF Announcement. Source: DigitalX Ltd

DigitalX’s Chair, Toby Hicks, noted the approval as a sign of growth in digital asset markets in Australia.

DigitalX Teams Up with K2 Asset Management and 3iQ for Bitcoin ETF

DigitalX has partnered with K2 Asset Management to act as the responsible entity and issuer of the ETF. Additionally, DigitalX will collaborate with 3iQ, a cryptocurrency-focused investment firm, to promote and distribute the product both in Australia and internationally.

These partnerships aim to leverage the expertise and networks of K2 Asset Management and 3iQ. Consequently, they will provide a seamless experience for investors looking to gain exposure to Bitcoin through a regulated platform.

ASX Approves DigitalX Bitcoin ETF, Following VanEck’s Launch

The Australian Securities Exchange gave its approval of DigitalX’s Bitcoin ETF closely on the heels of the VanEck Bitcoin ETF (VBTC), which was approved on June 15 and began trading on June 20.

VanEck Bitcoin ETF debuts on the ASX. Source: ASX

VanEck’s ETF closed its first trading day with $1.3 million in volume. However, this figure is below the $450 million daily average seen by the nine United States spot Bitcoin ETFs across their first ten trading days.

Betashares is also pursuing a Bitcoin ETF on the ASX.

Betashares Pursues Bitcoin ETF. Source: Will Martin Key Figures and Dates

  • DigitalX Bitcoin ETF (BTXX): Launching on July 12 at 10 am local time.

  • VanEck Bitcoin ETF (VBTC): Approved on June 15, began trading on June 20.

  • First Day Trading Volume of VanEck ETF: $1.3 million.

  • U.S. Spot Bitcoin ETFs: $450 million average daily volume across the first ten trading days.

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