On June 20th, the Australian Securities Exchange (ASX), the largest stock market in Australia, approved the listing of its first spot Bitcoin exchange-traded fund (ETF). This new ETF, called the VanEck Bitcoin ETF (VBTC), will be issued by VanEck.

The ASX's decision follows the successful launch of Bitcoin ETFs in the United States, where 11 such products have been introduced since January. Hong Kong has also followed suit by launching Bitcoin ETFs after the U.S.

Arian Neiron, CEO and Managing Director at VanEck Asia Pacific, commented, "the demand for access to Bitcoin via a listed vehicle traded on ASX has been increasing, and many of our clients have told us that their clients are already positioned to have an allocation ready to invest."

Australia previously introduced spot Bitcoin ETFs, with the Global X 21 Shares Bitcoin ETF (EBTC) in April 2022. More recently, the Monochrome spot Bitcoin ETF (IBTC) was approved and began trading on June 4th on the Cboe Australia exchange, the country's second-largest stock exchange.

Listing a Bitcoin ETF on the ASX marks a significant milestone, providing increased visibility, credibility, and accessibility to Bitcoin investments for both institutional and retail investors in Australia.

These approvals reflect a growing acceptance and interest in Bitcoin investment products in Australia and globally.

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