ASX today announces the admission of its first spot Bitcoin exchange-traded fund (ETF), marking a significant milestone in the Australian financial market and cryptocurrency industry.
The admission of the VanEck Bitcoin ETF (ASX:VBTC) comes as crypto assets, such as Bitcoin and Ether, increasingly move into the investment mainstream, supported by increased regulatory guidance around the product category and growing consumer demand.
Andrew Campion, GM of Investment Products & Strategy said:
“While it has been possible to trade Bitcoin via crypto exchanges, trading units with exposure to Bitcoin via an ETF on an exchange like ASX means you’re able to buy and sell those units through a traditional brokerage account, simplifying the process and opening the opportunity to more Australians.”
VBTC will be backed by a Bitcoin holding via a US domiciled master fund, ensuring that each unit of the ETF corresponds to a specific amount of Bitcoin. This structure aims to give investors exposure to the price of Bitcoin, providing investors with a robust and transparent reflection of the crypto asset’s value.
“As the demand for digital assets continues to grow, we are proud to offer a regulated avenue for Australian investors to access the crypto asset market,” Mr Campion said.
The U.S. State Department on Wednesday announced a $5 million reward for information leading to the arrest or conviction of alleged cryptocurrency fraudster Ruja Ignatova. Photo by the FBI
June 26 (UPI) — The U.S. State Department is offering a $5 million reward for information that leads to the arrest or conviction of alleged cryptocurrency fraudster Ruja Ignatova.
The State Department announced the reward in an online news release and describes Ignatova, 42, as a participant in “one of the largest global fraud schemes in history.”
The so-called “cryptoqueen” is on the FBI’s Ten Most Wanted Fugitives list and is accused of participating in a global cryptocurrency fraud scheme.
Federal investigators say Ignatova co-founded OneCoinLtd. while living in Bulgaria in 2014.
Since then, Ignatova and her cohorts allegedly defrauded investors by making false statements about OneCoin’s value as a cryptocurrency.
Federal investigators say Ignatova and others defrauded investors of $4 billion by 2017.
The U.S. Court for the Southern District of New York on Oct. 12, 2017, indicted Ignatova and charged her with conspiracy to commit wire fraud, wire fraud and conspiracy to commit money laundering.
Federal investigators says Ignatova left Sofia, Bulgaria, for Athens, Greece, to evade arrest two weeks after the federal indictment in New York.
She has been a fugitive since then.
The federal court in February 2018 issued a superseding indictment charging Ignatova with conspiracy to commit securities fraud and securities fraud, in addition to the other federal charges against her.
Prosecutors in Germany also have charged Ignatova with crimes related to the alleged fraud scheme.
The FBI added her to its most wanted list in 2022 and is offering a $100,000 reward for information leading to her arrest.
WikiLeaks founder Julian Assange, is set to return to his home country Australia as his long-running legal struggle with the U.S. government comes to a close.
As he walks out as a “free man,” we examine the famed whistleblower’s connections to Bitcoin and how the digital currency came to his rescue during difficult times.
What Happened: Wikileaks was censored by the administration over its damning report on the military campaigns in Iraq and Afghanistan. Under pressure from the authorities, financial giants like PayPal, Visa, and MasterCard imposed a financial blockade, cutting a substantial part of the company’s revenue.
Left with no choice, Bitcoin was used to circumvent the banking ban. In June 2011, Wikileaks posted a Bitcoin address on Twitter, now X, appealing for donations.
WikiLeaks now accepts anonymous Bitcoin donations on 1HB5XMLmzFVj8ALj6mfBsbifRoD4miY36v
The appeal was met with a lot of fervor, with up to 171 Bitcoins transferred to Wikileaks in the first week itself. During this time, one Bitcoin was valued at $20.96, meaning that the company raised $3,584 in total.
See Also: 54% Of Japanese Institutional Investors Plan To Invest In Crypto In The Next 3 Years
Thirteen years later, Bitcoin has matured into one of the world’s most valuable financial assets, with one Bitcoin being worth $61,636.87. This means that the 171 Bitcoins raised in the first week will be worth more than $10 million today, a whopping 2940x leap.
Why It Matters: Julian Assange has long been a Bitcoin bull, explaining in one of his interviews with former Google CEO Eric Schmidt how the currency’s scarcity will increase its value over time.
Aside from the financial benefits, Assange has complimented Bitcoin’s underlying decentralized technology, which is censorship-resistant and a powerful weapon against the monopoly of a few Internet businesses.
In other news, Assange’s wife Stella Assange, made an emergency plea to cover the cost of his flight back home, which is worth $520,000. Apparently, the donations can be made via credit/debit card payments and also Bitcoin.
URGENT: Emergency appeal for donations to cover massive USD 520,000 debt for jet.
Julian’s travel to freedom comes at a massive cost: Julian will owe USD 520,000 which he is obligated to pay back to the Australian government for charter Flight VJ199. He was not permitted to fly… pic.twitter.com/J6sTbXij53
Read Next: Chipmakers, Cruise Lines, Crypto Rally, Nvidia Reclaims $3 Trillion; Blue Chips, Small Caps Dip: What’s Driving Markets Tuesday?
Price Action: At the time of writing, ADA was exchanging hands at $0.3918, rising 1.02% in the last 24 hours, according to data from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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