Australia's largest exchange could list approved spot bitcoin ETFs by end of 2024: Bloomberg

Funds • April 29, 2024, 1:03 AM EST

published 1 minute ago on

Updated: April 29, 2024 at 2:23 AM EST

The Australian ASX is expected to list the first approved batch of Bitcoin ETFs by the end of 2024, according to Bloomberg.

Its report, citing sources familiar with the matter, stated that male Several issuers, including VanEck and local firms BetaShares and DigitalX, had already filed for their ETFs earlier this year.

The ASX is Australia's largest stock exchange, handling about 80% of local trading. As of March, the ASX had a domestic market capitalization of $2.7 trillion.

“ASX continues to engage with a number of issuers interested in accepting crypto asset-based ETFs,” an ASX spokesperson told The Block. The company declined to comment further on this matter.

Investors in Australia have been trading Bitcoin ETFs since 2022, and they are currently listed on CBOE Australia. The Global X 21Shares Bitcoin and Ethereum ETFs are the only spot cryptocurrency funds in Australia, according to website.

Meanwhile, spot cryptocurrency ETFs were first introduced in the US in January. The 11 U.S.-based Bitcoin spot funds have since raised $53.16 billion in total net assets, exceeding pre-launch expectations.

Hong Kong is also awaiting the first line of Bitcoin and Ether ETFs. Six funds will be officially listed on April 30, after receiving initial approval on April 15. Hong Kong's approval is a major positive development for cryptocurrencies, although its estimated size is much smaller compared to the United States, Bloomberg Chief Analyst Eric Balchunas said earlier. This month.

See also  A new report suggests that Daniel Snyder probably won't be selling leaders


Disclaimer: The Block is an independent media outlet that provides news, research and data. As of November 2023, Foresight Ventures is the majority investor in The Block. Foresight Ventures invests in Other companies In the crypto space. Cryptocurrency exchange Bitget is a core program of Foresight Ventures. The Block continues to work independently to provide objective, influential and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Danny Park is The Block's East Asia correspondent and writes on topics including Web3 and cryptosystem developments in the region. He was previously a reporter at Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Danny is based in Seoul and has previously produced written and visual content for media companies in Korea, Hong Kong and China. He holds a BA in Journalism and Business Marketing from the University of Hong Kong.

Leave a Reply

Your email address will not be published. Required fields are marked *