VanEck said that it has been working to introduce a Bitcoin ETF to the ASX since early 2021, writing in a blog post that it was the first to formally file to offer a Bitcoin ETF, resubmitting its application in February this year.
“Despite hurdles to clear in Australia, including regulatory and exchange framework challenges,” the firm wrote, “VanEck intends to lead the way in bringing the first Bitcoin ETF to ASX investors.”
VanEck is inviting potential investors to register their interest in the product on their website.
The launch of the VanEck and Monochrome Bitcoin ETFs in Australia follows the explosive popularity of similar investment products in the United States. Regulated Bitcoin ETFs, approved by the U.S. Securities and Exchange Commission (SEC) in January, have contributed to broader acceptance of the cryptocy by both institutional and retail investors.
Often referred to as “digital gold,” Bitcoin is seen as a potential store of value and hedge against inflation. Bitcoin spot ETFs were largely credited for the strong resurgence in Bitcoin’s price in the early part of 2024.
The American Bankers Association (ABA) has sharply criticized the Office of the Comptroller of the…
President Donald Trump and his family's cryptocy company, World Liberty Financial (WLFI), are facing a…
Aerodrome Finance and Velodrome, two of the leading decentralized exchanges (DEXs) on Base and Optimism,…
OpenAI's artificial intelligence models helped uncover two critical security vulnerabilities in PHP, the programming language…
SoFi Technologies has launched SoFi Earn (SOFIE), a new blockchain-based banking product that allows consumers…
Microsoft, Google's parent company Alphabet and Goldman Sachs have joined a growing list of major…