As a seasoned crypto investor, I’m thrilled to see DigitalX receive approval for its Australian spot Bitcoin ETF on the ASX. This development marks an important milestone in the evolution of the digital asset market Down Under and opens up new opportunities for investors.
An Australia-based asset manager named DigitalX, which specializes in blockchain technology, has received the green light from regulatory authorities to list its Australian Bitcoin exchange-traded fund (ETF) on the ASX. The ETF will be known as BTXX and is set to begin trading on July 12 at 10 a.m. local time.
This development marks the second Bitcoin Exchange-Traded Fund (ETF) to receive approval in Australia, following VanEck’s approval in June.
As a crypto investor, I’d describe it this way: The CEO of DigitalX, Lisa Wade, announced that we’ve reached a pivotal moment with the approval of our Bitcoin ETF. She explained that this means ASX (Australian Securities Exchange) clients can now easily invest in Bitcoin through a secure and liquid fund structure.
🎉🎉 DigitalX Limited is thrilled to announce that its DigitalX Bitcoin ETF (ASX: BTXX) will begin trading on the ASX as of July 12, 2024 at 10:00AM AEST. @DigiXCEO, Lisa Wade expressed, “We’re excited to now provide and make this offering available to investors.”
— DigitalX Ltd (@DigitalXLtd) July 8, 2024
As a researcher studying the digital asset market in Australia, I’ve observed its significant expansion and transformation. The recent approval given to DigitalX is a testament to this continuous progression.
As a crypto investor, I’d put it this way: DigitalX, the digital asset company I’m invested in, has formed strategic partnerships with two key players in the financial industry. K2 Asset Management will serve as the responsible organization and issuer for our BTXX ETF. Additionally, DigitalX has joined forces with 3iQ, a renowned cryptocurrency investment firm, to promote and distribute the product in Australia and beyond. This collaborative effort aims to maximize the reach and market impact of the BTXX ETF.
Following closely in the footsteps of VanEck’s Bitcoin spot ETF, which began trading on the ASX on June 20 and saw a trading volume of approximately $1.3 million on its debut day, BTXX is set to be introduced.
As a researcher studying Bitcoin ETF trading volumes, I’ve discovered an intriguing finding. The daily trading volume for these nine US-based Bitcoin spot ETFs during their initial days on the market averaged a staggering $450 million. However, the current amount falls noticeably below this mark.
As an analyst, I’ve noticed that Betashares, an Australian investment firm, has expressed its intention to create a Bitcoin Exchange-Traded Fund (ETF) on the ASX (Australian Securities Exchange). A report published by Bloomberg in April hinted at this development, indicating growing competition and interest in the Australian market for Bitcoin ETFs.
The initiation of DigitalX’s Bitcoin ETF on the ASX marks a significant advancement in Bitcoin investment options. Through strategic partnerships and regulatory approval, DigitalX aims to offer investors a secure and convenient method for investing in Bitcoin, underscoring the increasing acceptance of digital assets within traditional financial markets.
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2024-07-09 19:00