Blogs & Articles: Australian Stock Exchange Greenlights Its Second Bitcoin ETF 🔗 9 weeks ago

Australia's leading stock exchange, the Australian Securities Exchange (ASX), has approved the listing of its second Bitcoin exchange-traded fund (ETF).

On July 9th, the ASX authorized digital asset manager DigitalX to launch a spot Bitcoin ETF, set to start trading on July 12th under the ticker BTXX.

🎉🎉 DigitalX Limited is pleased to announce thats its DigitalX Bitcoin ETF (ASX: BTXX) will be admitted to quotation and commence trading on the ASX as of Friday, 12 July 2024 at 10:00AM AEST.@DigiXCEO, Lisa Wade said: "We are pleased to now be able to deliver and offer this… pic.twitter.com/iZqt09rFtV

— DigitalX Ltd (@DigitalXLtd) July 8, 2024

Recently, the Monochrome Bitcoin ETF (IBTC) began trading on the Cboe. 

The ASX's approval of DigitalX's ETF continues this trend, driven by increasing demand for Bitcoin-related products and spot ETFs, indicating a rising interest in Bitcoin exposure in the Australian market.

Investors are opting for regulated fund structures for Bitcoin investments instead of direct ownership.

ETFs provide a method to invest in Bitcoin without directly handling the asset. 

It is expected that more countries will approve Bitcoin ETFs as these instruments gain wider acceptance and regulatory backing.

By approving another Bitcoin ETF, Australia's main securities exchange reflects a changing perspective on Bitcoin assets within a major financial market.