Australia Approves First Spot Bitcoin ETF, Trading Starts June 20

The Australian Securities Exchange (ASX) has given the green light to the VanEck Bitcoin ETF, marking the first spot Bitcoin ETF to be approved for trading in Australia. This ETF, issued by VanEck, will commence trading on June 20th. The news comes shortly after VanEck secured approval to launch its VanEck Bitcoin Trust (HODL) in the United States in January. VanEck CEO Arian Neiron highlighted the rising demand for Bitcoin exposure in Australia through regulated and familiar investment channels. While this is the first spot Bitcoin ETF to be approved by the ASX, Australia already has two other Bitcoin ETFs. The Monochrome Bitcoin ETF (IBTC) launched on the Cboe Australia exchange on June 4th, and the Global X 21 Shares Bitcoin ETF (EBTC) debuted in April 2022. Both of these ETFs store Bitcoin holdings offline in secure custody solutions that meet Australian regulatory standards.