Australia’s largest stock exchange could list approved spot bitcoin ETFs by end of 2024: Bloomberg
Australia’s ASX stock exchange is expected to list its first approved batch of spot bitcoin ETFs by the end of 2024.Issuers including VanEck, BetaShares, and DigitalX have already filed applications for such ETFs earlier in the year.Australian investors have been trading spot bitcoin ETFs since 2022, currently listed on CBOE Australia
Its report, citing sources familiar with the matter, noted that several issuers, including VanEck and local firms BetaShares and DigitalX, have already submitted their ETF applications earlier this year.
ASX is the top equity exchange in Australia, managing about 80% of the local trades. As of March, ASX had a domestic market capitalization of $2.7 trillion .
“ASX continues to engage with a number of issuers that are interested in admitting crypto asset-based ETFs,” an ASX spokesperson told The Block. The company declined to comment further on the matter.
Investors in Australia have been trading spot bitcoin ETFs since 2022, currently listed on CBOE Australia. The Global X 21Shares Bitcoin and Ethereum ETFs are the only two spot crypto funds in Australia, according to its website .
Meanwhile, spot crypto ETFs were first introduced in the U.S. 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 also awaits its first line of spot bitcoin and ether ETFs. Six funds will be officially listed on April 30, after receiving the initial approval on April 15. Hong Kong’s approval is a significant positive development for crypto, despite its estimated size being much smaller compared to the U.S., Bloomberg's senior ETF Analyst Eric Balchunas said earlier this month.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Will Pi Network face further losses? Why THESE signals say yes
Fed’s Hawkish Talons Shine, Bond Market Believes: US Treasury Yield Curve Flattens as Rate Hike Bets Heat Up
The bond market is showing increasing confidence that Federal Reserve Chairman Kevin Walsh will fulfill his commitment to curb inflation—currently, the inflation rate has exceeded policymakers' target level for five consecutive years.
"Hawkish Rate Hike"! Walsh's "Major Shift"
The Federal Reserve unanimously raised interest rates by 25 basis points in September, with Waller fulfilling his hawkish commitments through decisive action and making it clear that current financial conditions are not tight, and this hike only removes "some accommodation," using strong language. UBS believes that Waller's policy response function has undergone a substantial shift compared to his predecessor—he is more sensitive to inflation and supply shocks, less concerned about the labor market, and has set a higher threshold for restrictive policy. The risks are clearly tilted toward interest rates remaining elevated for a longer period.
Crypto prices
More
