DigitalX set to launch Bitcoin spot ETF on Australia’s top exchange ASX

Following VanEck's Bitcoin ETF, DigitalX's spot Bitcoin fund is expected to begin trading soon.

DigitalX set to launch spot Bitcoin ETF on Australia’s top exchange: Bloomberg

Key Takeaways

  • ASX approves DigitalX's Bitcoin ETF, expanding its crypto offerings.
  • DigitalX partners with K2 Asset Management and 3iQ for its new Bitcoin ETF.

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DigitalX Limited, a digital asset fund manager in Australia, is set to launch its spot Bitcoin exchange-traded fund (ETF) on the Australian Securities Exchange (ASX) on July 12, according to a Monday report from Bloomberg. ASX is Australia’s leading exchange, managing approximately 80% of equity trading in the country.

Developed in collaboration with K2 Asset Management and 3iQ, DigitalX’s new ETF will be listed under the ticker BTXX. With the upcoming listing, the firm will become the second asset manager to receive approval to launch a spot Bitcoin ETF on the ASX.

Lisa Wade, CEO of DigitalX, said the new ETF will streamline institutional investors’ access to digital asset fund products.

“I believe this will attract new entrants into the market and ultimately allow institutions to include Bitcoin and digital assets into strategic asset allocations,” said Wade.

The ASX recently approved a spot Bitcoin ETF from VanEck. VanEck’s Bitcoin ETF (VBTC) went live on June 20 and attracted A$1.5 million (around $1,3 million) on its debut date.

In addition to VanEck and DigitalX, BetaShares, another leading Australian fund manager, is also working to list its Bitcoin and Ethereum ETFs on the ASX.

The ASX-listed Bitcoin ETFs were not the first Bitcoin funds in Australia. Previously, the prominent Australian exchange CBOE Australia already listed several crypto ETFs, including Global X 21Shares Bitcoin, Global X 21Shares Ethereum, and Monochrome Bitcoin.

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