ASX admits first spot Bitcoin ETF

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.