BTC fund debuts amid renewed investor interest in crypto markets.
The launch follows similar moves in the US and KH, with Bitcoin prices nearly tripling since 2023.
The
Australian Securities Exchange (ASX) marked a milestone on Thursday with the
launch of the country's first Bitcoin (BTC) exchange-traded fund (ETF) on its
main stock market. The VanEck Bitcoin ETF (VBTC)
debuted with approximately AUD990,000 ($660,429) in assets, signaling a growing
appetite among investors for cryptocurrency-related products.
Australia's Main Stock
Exchange Welcomes First Bitcoin ETF
The
launch comes after more than three years of discussions between fund
managers and the ASX, as the exchange operator sought to ensure proper
safeguards were in place. While the VanEck Bitcoin ETF will not directly own Bitcoin,
it will invest in the US-listed VanEck Bitcoin Trust (HODL), which
made its debut in January.
The launch
of the VanEck Bitcoin ETF follows a wave of similar products hitting the market
in other countries. In the United States, investors have poured billions of
dollars into cryptocurrency ETFs since several products received regulatory
approval in early 2024. Hong
Kong also joined the trend in April, introducing six cryptocurrency funds,
although investor interest there has been relatively subdued compared to the US.
“The demand
for access to Bitcoin via a listed vehicle traded on ASX has been increasing,
and many of our clients have told us that their clients are already positioned
to have an allocation ready to invest,” said Arian Neiron, CEO and Managing
Director at VanEck Asia Pacific.
While the
VanEck Bitcoin ETF is the first fund of its kind to be listed on the ASX, it is
not the only cryptocurrency-related product available to Australian investors.
The local subsidiary of CBOE Global Markets (CBOE) operates a competitor
exchange that already
hosts several bitcoin ETFs.
Bitcoin,
the world's largest cryptocurrency by market capitalization, has experienced a
significant resurgence in 2023, with its price nearly tripling since the start
of the year. However, the digital asset's value has plateaued in recent months
after reaching a peak in March.
As the
VanEck Bitcoin ETF begins trading alongside some of Australia's most well-known
corporations, such as BHP (BHP) and Commonwealth Bank (CBA), it remains to be
seen how investors will respond to this new investment vehicle and whether it
will pave the way for more cryptocurrency-related products on the ASX in the
future.
The market
for cryptocurrency ETFs is now eagerly awaiting the introduction of the
first-ever physically-backed funds for Ethereum (ETH), the second-largest
digital asset by market capitalization. Although the US SEC accepted
preliminary applications from issuers a month ago, the final approval has
not yet occurred.
The
Australian Securities Exchange (ASX) marked a milestone on Thursday with the
launch of the country's first Bitcoin (BTC) exchange-traded fund (ETF) on its
main stock market. The VanEck Bitcoin ETF (VBTC)
debuted with approximately AUD990,000 ($660,429) in assets, signaling a growing
appetite among investors for cryptocurrency-related products.
Australia's Main Stock
Exchange Welcomes First Bitcoin ETF
The
launch comes after more than three years of discussions between fund
managers and the ASX, as the exchange operator sought to ensure proper
safeguards were in place. While the VanEck Bitcoin ETF will not directly own Bitcoin,
it will invest in the US-listed VanEck Bitcoin Trust (HODL), which
made its debut in January.
The launch
of the VanEck Bitcoin ETF follows a wave of similar products hitting the market
in other countries. In the United States, investors have poured billions of
dollars into cryptocurrency ETFs since several products received regulatory
approval in early 2024. Hong
Kong also joined the trend in April, introducing six cryptocurrency funds,
although investor interest there has been relatively subdued compared to the US.
“The demand
for access to Bitcoin via a listed vehicle traded on ASX has been increasing,
and many of our clients have told us that their clients are already positioned
to have an allocation ready to invest,” said Arian Neiron, CEO and Managing
Director at VanEck Asia Pacific.
While the
VanEck Bitcoin ETF is the first fund of its kind to be listed on the ASX, it is
not the only cryptocurrency-related product available to Australian investors.
The local subsidiary of CBOE Global Markets (CBOE) operates a competitor
exchange that already
hosts several bitcoin ETFs.
Bitcoin,
the world's largest cryptocurrency by market capitalization, has experienced a
significant resurgence in 2023, with its price nearly tripling since the start
of the year. However, the digital asset's value has plateaued in recent months
after reaching a peak in March.
As the
VanEck Bitcoin ETF begins trading alongside some of Australia's most well-known
corporations, such as BHP (BHP) and Commonwealth Bank (CBA), it remains to be
seen how investors will respond to this new investment vehicle and whether it
will pave the way for more cryptocurrency-related products on the ASX in the
future.
The market
for cryptocurrency ETFs is now eagerly awaiting the introduction of the
first-ever physically-backed funds for Ethereum (ETH), the second-largest
digital asset by market capitalization. Although the US SEC accepted
preliminary applications from issuers a month ago, the final approval has
not yet occurred.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
FX and CFDs in Africa: Key Industry Trends | FMAS:24
FX and CFDs in Africa: Key Industry Trends | FMAS:24
As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
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👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Asset Allocation & Trading in a Lower Interest Rate Environment | FMAS:24
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!
Traditional investment paradigms shift in a lower interest rate environment, compelling investors to reassess their asset allocation and trading strategies. This scenario prioritizes diversification beyond conventional bonds and equities. Investors should adapt by seeking assets with the potential for higher yields, considering global markets, and employing dynamic trading strategies that leverage short-term market fluctuations, all while managing risk more meticulously to safeguard returns.
SPEAKER: Roger Eskinazi, Managing Partner at Tickmill South Africa
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage.
Subscribe to our YouTube channel for more!