Australia is poised to join the global trend of countries, including the US and Hong Kong, allowing their citizens to invest in Bitcoin exchange-traded funds (ETFs).
ASX to approve Bitcoin ETFs
Earlier today, Bloomberg reported that the Australian Securities Exchange (ASX) could approve its inaugural batch of spot Bitcoin ETF before the end of the year after receiving applications from notable players like VanEck, BetaShares, and DigitalX.
ASX is the largest equity exchange in Australia. According to its website, the firm’s domestic market capitalization stood at $2.7 trillion, with over 2000 issuers as of March 2024.
Meanwhile, this upcoming launch would mark Australia’s second wave of such products. In 2022, the country witnessed the introduction of various crypto ETFs from entities like Cosmos Asset Management and Global X 21Shares.
However, these offerings were pulled from the…
