US investment firm VanEck is preparing to launch Australia's first Bitcoin ETF on its securities trading platform. 📈 The official announcement states that the ETF will launch on the Australian Securities Exchange (ASX) on Thursday, June 20th.

VanEck is one of the issuers of Bitcoin ETFs in the United States. Its product, VanEck Bitcoin Trust (HODL), manages over $529 million in assets, with a market capitalization of $660 million.

The approval of VanEck's Bitcoin ETF (VBTC) in Australia comes five months after the US Securities and Exchange Commission approved the launch of HODL on exchanges along with other ETFs issued by leading asset managers such as BlackRock, Ark Invest, Grayscale, Fidelity and Bitwise. 🚀

VanEck says it is in talks with Australian regulators to launch a Bitcoin ETF in the country starting in early 2021. The company says it is the first to apply to the ASX to launch an ETF and is working with the Australian Securities and Investments Commission (ASIC) on the mechanics of the product.