The Australian Securities Exchange (ASX) welcomed its first Bitcoin exchange-traded fund (ETF) on Thursday (June 20), following a growing trend of digital assets hitting various global stock markets.
Campion emphasised that trading Bitcoin via an ETF on an established exchange like the ASX allows investors to buy and sell via traditional brokerage accounts, simplifying the process compared to using cryptocurrency exchanges.
“This approach makes it easier for more Australians to invest in Bitcoin,” he added in the release.
The VanEck Bitcoin ETF launched with an initial investment of approximately AU$985,000 (US$657,000) and is designed as a feeder fund for the US$647 million VanEck Bitcoin Trust, which is listed in the US.
This setup ensures that each unit of the ETF is backed by a specific amount of Bitcoin, offering investors a transparent and straightforward way to gain exposure to the cryptocurrency’s price movements.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article
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