VanEck’s Bitcoin ETF is now officially trading on the Australian Securities Exchange (ASX), with assets worth approximately $660 million when it first debuted.
This achievement came after the launch of a spot BTC ETF in the US in January, which sparked increased interest among Australian brokers and financial advisors. ASX welcomed VBTC to the exchange and congratulated the team on being the first to launch a cryptocurrency ETF on the Australian Securities Exchange.
While VanEck’s ETF is not the first cryptocurrency-based ETF in Australia (a local subsidiary of CBOE Global Markets already offers a similar product), it is the first on the Australian Securities Exchange. This development highlights the increasing acceptance of cryptocurrency investments in the traditional financial world.
Similar to other BTC ETFs, VanEck’s ETF does not directly hold the underlying assets. Instead, it invests in the VanEck Bitcoin Trust, a US-listed fund, reflecting its strategy in other markets.
Read more: 
This is the amount of Bitcoin held by Coinbase
After the approval of BTC ETF in the US, a significant amount of funds flowed into this new financial instrument, and two months later, Bitcoin reached a historical high of just over $73,700. Despite a subsequent 10% decline from the peak, the launch of VanEck’s BTC ETF in Australia may reignite interest and have a positive impact on the price of Bitcoin. 