2024-06-20 19:46:19

Australia’s First Bitcoin ETF Debuts on ASX with $1.3 Million Trading Volume

Australia’s leading stock exchange, the Australian Securities Exchange (ASX), saw the first Bitcoin exchange-traded fund (ETF) approved and commence trading, closing its debut day with $1.3 million (1.9 million Australian dollars) in trading volume. This figure falls short compared to the United States’ spot Bitcoin ETFs, which collectively amassed $4.5 billion in trading volume on their first day, averaging around $450 million per fund. VanEck, the investment firm behind the VanEck Bitcoin ETF (VBTC), expressed optimism about the potential growth of the product in Australia, despite the market size difference between the two countries. “Notwithstanding the Australian market being a

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