Main navigation

Bitcoin ETFs Hit Epic Milestone in Australia: Details

Thu, 20/06/2024 - 10:45
Bitcoin ETFs Hit Epic Milestone in Australia: Details
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

In an epic milestone for Bitcoin exchange-traded funds, the VanEck Bitcoin ETF has been listed on the main stock exchange operated by ASX Ltd.


This marks the first time a Bitcoin exchange-traded fund (ETF) has been listed on Australia's main stock market, reflecting the growing acceptance and integration of digital assets into mainstream financial markets.

The ETF made its debut on Thursday, backed by an initial seed investment of approximately 985,000 Australian dollars, or A$985,000, translating to $657,000 in U.S. dollars.

This debut is significant for Australia and an important step for the global cryptocurrency market, as it provides Australian investors with direct access to Bitcoin through a regulated financial product.

The VanEck Bitcoin ETF listed on the ASX is a feeder fund for the $647 million VanEck Bitcoin Trust in the United States. This structure allows the Australian ETF to invest in the larger, U.S.-based trust, providing investors with exposure to the same underlying Bitcoin assets managed by VanEck.


The debut of the VanEck Bitcoin ETF on the ASX is likely to have a ripple effect on the Australian financial markets. It may encourage other asset managers to take similar routes for their crypto ETFs, thereby expanding the range of investment options available to Australian investors.

According to Bloomberg, Sydney-based BetaShares Holdings Pty and DigitalX Ltd., another local player, are also lining up for listings on the main Australian board ASX.

U.S. Bitcoin ETFs debuted in January and have now amassed $56 billion in assets. Hong Kong allowed spot ETFs for Bitcoin and Ether in April, and they have attracted a fraction of the interest of U.S. vehicles.

Bitcoin was up 0.65% in the last 24 hours at the time of writing to $65,610.


Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles