Spot Bitcoin ETFs have been taking over Wall Street. And now, they’re coming to Australia.
What’s happening:
- The Australian Securities Exchange has listed their very first spot Bitcoin ETF
- The spot Bitcoin ETF is listed by global asset management company VanEck
Why it matters:
- Bringing spot Bitcoin ETFs to traditional public markets has been a major catalyst for crypto and digital assets, with hedge funds and institutions beginning to accumulate Bitcoin for the first time ever
Going deeper:
- VanEck’s spot Bitcoin ETF (ASX: VBTC) will act as a feeder fund for their main spot Bitcoin ETF (CBOE: HODL) which trades in the United States
- Traditional public markets and Bitcoin have started to overlap in a meaningful way far beyond spot ETFs recently, with a new surge in the amount of publicly traded companies who are choosing to own Bitcoin instead of holding cash
The fine print:
- While this is the first ever spot Bitcoin ETF to be listed on the Australian Securities Exchange, the Cboe Australia exchange has had spot Bitcoin ETFs and spot Ethereum ETFs listed for multiple years already
