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Australia Expanding Cryptocurrency Offerings with Upcoming Bitcoin ETFs

Apr 29, 2024

Australia's largest securities exchange, ASX, is preparing to introduce spot Bitcoin ETFs by the end of 2024. This move comes after similar ETF approvals in the U.S. and Hong Kong. Several issuers, such as BetaShares, VanEck, and DigitalX, are currently in the process of launching their products on ASX, although a clear timeline for approval is yet to be determined. ASX, founded in 1987, ranks among the world's top 20 listed exchange groups based on its substantial turnover and market capitalization, making it the largest exchange in the southern hemisphere. Analysts predict that self-managed superannuation programs could become major buyers of spot-crypto funds. The U.S. SEC and Hong Kong have already approved spot Bitcoin ETFs, paving the way for the mainstream acceptance of cryptocurrencies as investment instruments in these regions.

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