Australia Gears Up for Bitcoin ETF Wave After US, Hong Kong Approvals

Spot Bitcoin ETFs have caused a major stir in the cryptocurrency industry, unlike anything seen before. Following the US and Hong Kong, Australia is now gearing up for a series of launches of Bitcoin exchange-traded funds.ASX Ltd.

Sydney-based BetaShares is actively working on launching a product on the ASX. The recent crypto inflows in the US signal a growing acceptance and longevity for the asset class, as per Justin Arzadon, head of digital assets at BetaShares. The company has even reserved ASX tickers for spot Bitcoin and spot Ether ETFs, indicating their confidence in the market.

VanEck, which offers similar ETFs in the US and Europe, resubmitted an application in February Jamie Hannah, deputy head of investments and capital markets for VanEck Australia, suggests these programs could become buyers of spot crypto funds. With a combination of self-managed super funds, brokers, financial advisers, and platform money, there’s considerable market potential for these ETFs to grow.

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