#CryptoAussie #BTCETF #ASX #Australia
Sydney, Australia (June 17, 2024): In a landmark decision, the Australian Securities Exchange (ASX) has thrown open its doors to the world of cryptocurrency, approving the very first spot Bitcoin exchange-traded fund (ETF) for listing. This paves the way for VanEck Australia's groundbreaking product, set to debut on June 20th, 2024.
The ASX, a dominant force controlling 90% of Australia's equity market, has long been anticipated to embrace the burgeoning world of crypto. This approval marks a significant step forward, potentially lending significant legitimacy to crypto and associated ETFs within the region.
VanEck Takes the Lead
VanEck, the issuer behind this pioneering ETF, isn't a newcomer to the crypto scene. They boast established spot Bitcoin ETFs in the US and Europe, and plan to leverage this experience to provide Australian investors with a top-tier cryptocurrency solution. Interestingly, VanEck resubmitted their application for the product back in February, highlighting their determination to be the first mover in this exciting new market.
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A Turning Point for Australian Crypto?
This news comes hot on the heels of Monochrome Asset Management's Bitcoin ETF gaining approval on the smaller Cboe Australia exchange. However, industry experts point towards the ASX's sheer size and trading volume as a far more significant platform for crypto exposure. With VanEck's ETF securing the ASX's green light, it could signal a turning point for wider acceptance of cryptocurrencies and their associated investment vehicles in Australia.
Global Crypto Hub Aspirations
This decision by the ASX aligns perfectly with Australia's ambitions of becoming a major player in the global crypto scene. Following the US's approval of spot Bitcoin ETFs in January, anticipation grew for similar moves within the Asia-Pacific region. The ASX's embrace of this innovative financial instrument positions Australia as a serious contender in the race to become a global crypto hub.
A New Era for Aussie Investors
The launch of VanEck's Bitcoin ETF on the ASX opens exciting possibilities for Australian investors. With a regulated and accessible product now available, they can now participate in the growth potential of Bitcoin alongside traditional investment options. This move by the ASX could potentially usher in a new era for Australian investors seeking exposure to the ever-evolving world of cryptocurrency.
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Content Inspired from: cryptopaid(dot)net/btc-etf

#BTCbullish #BTCbetterInvestment #BTCVSGOLD #BTC☀
It's been a remarkable year for Bitcoin (CRYPTO: BTC) investors. Since the beginning of 2023, Bitcoin has skyrocketed by 307%, fueled by the approval of spot exchange-traded funds (ETFs) and the April halving event.
Gold has also approached record highs, buoyed by positive market sentiment. While Bitcoin and gold are often compared as investment options, Bitcoin emerges as the superior choice.
Comparing Bitcoin and Gold
Both Bitcoin and gold share key characteristics that make them appealing to investors. Scarcity is a crucial factor: Bitcoin has a fixed supply cap of 21 million coins, while gold is limited by its natural reserves in the Earth's crust. This scarcity principle suggests that the prices of these assets should rise as demand increases. Gold has long been viewed as a reliable store of value due to its limited supply.
Additionally, both assets have practical uses. Gold is mainly used in jewelry and some industrial applications. Bitcoin, however, is valued for its decentralized nature, which lowers transaction costs and enables global money transfers without a central authority.
The Edge of Bitcoin
Despite their similarities, Bitcoin has distinct advantages that make it a better investment than gold. Firstly, although gold's supply is finite in theory, it continues to be mined. The U.S. Geological Survey notes that 77% of the gold in the Earth's crust has been mined, leaving a significant amount still to be extracted. If demand for gold surges, mining companies could ramp up production, altering the supply dynamics.
In contrast, Bitcoin's supply is fixed at 21 million coins. This cap is a core aspect of Bitcoin's design, and changing it would undermine the entire network's value proposition. This fixed supply contributes to Bitcoin's price volatility but also its potential for appreciation.
Moreover, as a digital asset, Bitcoin is easier to store and transport than physical gold. Bitcoin can be divided into smaller units, making it more versatile for transactions. Unlike gold, which cannot be easily divided for everyday use, Bitcoin offers greater convenience.
The debate over store-of-value further emphasizes Bitcoin's superiority. Over the past five years, Bitcoin's price has surged by 718%, turning a $1,000 investment in June 2019 into nearly $8,200 today. In comparison, gold's price has only risen by 73% over the same period, despite significant economic challenges like the pandemic, inflation, and rising interest rates.
Looking Ahead
Bitcoin and gold will likely continue to be compared as investment assets. However, over the next five to ten years, Bitcoin appears to offer greater investment potential. Its fixed supply, ease of use, and significant appreciation make it a compelling choice for investors seeking to enhance their purchasing power over time.
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