Australia is positioned to experience an increase in Bitcoin exchange-traded funds (ETFs) entering the market, similar to trends in the U.S. and Hong Kong. Firms like Van Eck Associates and BetaShares Holdings are in the process of submitting applications to list Bitcoin spot ETFs. It is expected that ASX Ltd., a key player in the country's equity trading sector, will approve the first Bitcoin spot ETFs by the end of 2024.

BetaShares has confirmed its plans to introduce a product on the ASX, while DigitalX Ltd. has also applied for a Bitcoin ETF listing. Additionally, VanEck, with a history of similar investments in the U.S. and Europe, renewed its ETF application in February. This development comes after the remarkable $53 billion influx into the U.S. Bitcoin market.

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