Happycoin.club - The Australian Securities Exchange (ASX) has approved its first Bitcoin-based spot exchange-traded fund, which will begin trading on June 20.
The VanEck Bitcoin ETF (VBTC) is issued by the investment company VanEck. It has already launched trading of its Bitcoin fund VanEck Bitcoin Trust (HODL) in the US on January 11, 2024.
Demand for affordable Bitcoin-based exchange-traded products is growing among Australian investors, but they want a “regulated, transparent and familiar investment vehicle,” VanEck Asia Pacific CEO Ariane Neuron said.
VBTC makes Bitcoin more accessible by managing all the internal processes. Understanding the technical aspects of acquiring, storing and protecting digital assets is no longer required,” she said.
However, the very first spot Bitcoin ETF in Australia was EBTC from Global X 21 Shares. It launched on Cboe in April 2022.
