Australia is set to follow in the footsteps of the United States and Hong Kong in launching a bitcoin ETF. ASX Ltd., which handles trading in about four-fifths of the country's shares, is expected to approve the first spot bitcoin ETFs on the main board by the end of 2024, according to people familiar with the matter who spoke on condition of anonymity.
A spokesperson for Sydney-based BetaShares said in an interview that efforts were underway to launch a product on the Australian Stock Exchange. Another homegrown company, DigitalX Ltd., said in its half-year results in February that it had applied. Justin Arzadon, head of digital assets at BetaShares, said the inflow of US money proved that digital assets were here to stay. Arzadon added that the company has reserved ASX tickers for spot bitcoin and spot ethereum ETFs.
The Australian exchange is expected to approve a spot bitcoin ETF by the end of 2024
2024-04-28 23:39:48
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