Australia ASX to List First Bitcoin ETFs by End of 2024

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ASX, the leading Australian stock market operator, is planning to list its first batch of spot Bitcoin exchange-traded funds (ETFs) by the end of 2024, according to Bloomberg’s reports. This decision follows applications from major players like VanEck, BetaShares, and DigitalX. Managing around 80% of local trades with a market cap of $2.7 trillion, ASX is actively engaging with issuers interested in crypto asset-based ETFs.

As a market analyst, I can share that ASX Stock Exchange, Australia’s premier stock market operator, intends to debut its initial offering of spot Bitcoin exchange-traded funds (ETFs) towards the close of 2024, according to information from Bloomberg.

Major companies such as VanEck, BetaShares, and DigitalX have proposed the introduction of cryptocurrency asset-based exchange-traded funds (ETFs). The Australian Securities Exchange (ASX), which handles around 80% of local transactions with a market value of $2.7 trillion, is actively collaborating with issuers who are eager to launch crypto ETFs.

A representative from the ASX (Australian Securities Exchange) acknowledged ongoing discussions with exchange-traded fund (ETF) issuers regarding potential collaborations but remained silent on further details. Since 2022, Australian investors have had the opportunity to invest in spot bitcoin ETFs through CBOE Australia, which manages two such funds.

In the United States, eleven bitcoin spot ETFs went live in January, managing a combined total of $53.16 billion in assets. Hong Kong is preparing to debut its first bitcoin and ether spot ETFs, scheduled for an official listing on April 30 following initial approval on April 15.

Experts predict that the adoption of cryptocurrencies will see a substantial increase due to the planned listing of bitcoin ETFs on the Australian Securities Exchange (ASX) by 2024. Simultaneously, there are expanding opportunities globally in this asset class.

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2024-04-29 10:12