On June 20, we received news of the launch of the first Bitcoin ETF in Australia on the ASX. A great new milestone for the entire Bitcoin community. Now we receive news of the approval of the second ASX Bitcoin ETF in Australia. Fund manager DigitalX has confirmed that it has received regulatory approval. This makes the second Bitcoin ETF on the Australian ASX a reality.
Not Australia's second Bitcoin ETF
The launch of the DigitalX Bitcoin ETF is great news. It is the second Bitcoin ETF to be listed on the ASX. It is also the third Bitcoin ETF to be approved across Australia. The first ever Bitcoin ETF in Australia launched in April 2022. This did not happen on the ASX, but on the Cboe Australia Securities Exchange. The Bitcoin ETF’s impact has been limited over the years.
Instant access to Bitcoin
The CEO of DigitalX points out that the new ETF will provide investors with direct access to Bitcoin. CEO Lisa Wade emphasizes that this is a regulated and liquid fund structure. With this, DigitalX is of course trying to remove some of the pessimism among investors.
It’s good to know that there are two major stock exchanges in Australia. The ASX competes with Cboe Australia and has thus achieved a significant victory in this area. From DigitalX’s point of view, choosing the ASX is a logical choice. Most investors see this exchange as more liquid than its main competitor. It’s also good to know: the ASX accounts for nearly 80% of the total share trading volume in Australia.
Meets all legal requirements
According to DigitalX reports, it will be possible to invest in the second Bitcoin ETF starting Thursday, July 11, at 8:00 p.m. (local time). From that moment on, this new ETF will compete with the previously launched Bitcoin ETF. This ETF was launched by VanEck on June 20 and immediately saw a huge influx.
The fact that DigitalX’s new ETF has been approved indicates that the ETF meets all legal requirements. This includes certain financial criteria, specific disclosures, and compliance with (strict) exchange rules. In general, all of this is very well regulated in Australia.
separate from america
Compared to the VanEck Bitcoin ETF, the DigitalX ETF certainly sets itself apart. Sources indicate that this ETF will be completely separate from the US. This seems to be a good sign, as there is a lot that will happen in the US in the coming months. Therefore, this political landscape will not affect the DigitalX Bitcoin ETF. At the same time, it is very likely that this US political landscape will affect the VanEck Bitcoin ETF in Australia. However, this will become clear in the near future.
Follow us on Google News and always stay updated with the latest cryptocurrency news.
Claim 10€ of Bitcoin for Free
In collaboration with Bitvavo, the largest exchange in the Netherlands, we are allowed to: 10 euros worth of bitcoin Or give away another crypto to our visitors. You can also trade up to 10,000 euros without commission.
Start your adventure today with 10€ of free Bitcoin and create an account via the button below.
