ASX to List Its First Bitcoin ETF This Week

VanEck, a global investment manager headquartered in the U.S., has announced the listing of an exchange-traded fund (ETF) directly investing in Bitcoin on the Australian Securities Exchange (ASX), the country's leading equity market, commanding a 90% market share.

The press release issued by VanEck over the weekend revealed that ASX has granted approval for the listing of the VanEck Bitcoin ETF (ASX: VBTC), scheduled to debut on Thursday, June 20.

Arian Neiron, Managing Director & CEO, Asia Pacific, at VanEck, said: "We are pleased to bring bitcoin to the Australian market as a regulated financial product on the nation's primary capital market destination, the ASX."

He further remarked: "Notwithstanding that crypto investing is a polarising topic, we recognise bitcoin is an emerging asset class that many advisers and investors want to access. We have developed a robust offering that we believe provides an opportunity for bitcoin exposure using a regulated, transparent and familiar investment vehicle."

This launch on Australia's principal equity market follows the approval of the first bitcoin ETFs by U.S. regulators​ earlier this year, along with the debut of Asia's inaugural spot crypto ETFs in Hong Kong in late April.

Additionally, Sydney-based BetaShares and DigitalX, another local contender, are also preparing for listings of their crypto ETFs on ASX. Notably, an initial wave of Bitcoin ETFs was introduced in Australia two years ago on CBOE Australia, a smaller ASX competitor.