Australia’s leading stock market operator, ASX Stock Exchange, plans to list its first batch of spot bitcoin exchange-traded funds (ETFs) by the end of 2024, as reported by Bloomberg.
This move follows submissions from major players like VanEck, BetaShares, and DigitalX. ASX, which manages about 80% of local trades with a market capitalization of $2.7 trillion, is actively engaging with issuers keen on crypto asset-based ETFs.
An ASX spokesperson confirmed ongoing talks with ETF issuers but declined further comment. Australian investors have traded spot bitcoin ETFs since 2022 on CBOE Australia, which hosts only two such funds.
In the U.S., spot crypto ETFs were first introduced in January. The 11 spot bitcoin funds in the U.S. have since amassed $53.16 billion in total net assets, exceeding pre-launch expectations. Hong Kong anticipates its first spot bitcoin and ether ETFs, set for official listing on April 30 after initial approval on April 15.
Investors anticipate a significant boost in crypto adoption with Australia’s ASX listing spot bitcoin ETFs by 2024, alongside global expansions in this asset class.
Also Read: Bitcoin Spot ETFs in U.S. Witnessed $328M Outflows Last Week
