DigitalX, a cryptocurrency fund manager in Australia, has been granted regulatory approval for its exchange-traded funds (ETFs) to be listed on ASX. ASX is Australia’s largest and most prominent stock market. DigitalX’s BTC ETF spot will be the ASX’s second BTC ETF after VanEck BTC ETF debuted on the exchange in the last month.
The press release states that the ETF’s ticker will be BTXX, and it will begin trading on Friday.
Also Read: Bitcoin (BTC) ETF Now On Australia’s Main Stock Exchange
DigitalX CEO Lisa Wade stated, ‘We will allow Australians to easily invest in Bitcoins without the need to maintain digital wallets. This is a safe and cost-effective way to do so.‘
Wade further stated ‘This spot Bitcoin ETF is now available to Australian investors. It is an important moment in our business as well as for Australian investors of digital assets. DigitalX Bitcoin is an ETF that allows ASX clients to directly access Bitcoin through a liquid and regulated fund structure.‘
What will Bitcoin do after the launch of the BTC ETF in Australia?
BTC dropped below $55,000 yesterday. BTC’s price has risen to $57,000 in just 24 hours, a 3.4% increase. BTC’s ETFs are one of the reasons for the market crash. If it attracts people, the launch of DigitalX’s BTC-ETF could be a game changer for BTC.
Also Read: German Govt. Moves 1000 Bitcoin Worth $55 Million: Another Slump?
VanEck launched its BTC ETF in Australia, but it did little to boost BTC. DigitalX could follow the same pattern.
In the last month alone, Bitcoin’s average mining costs surpassed $86,000. Ali Martinez is a cryptocurrency expert who believes that BTC’s value has consistently surpassed the average mining cost. Martinez’s prediction suggests that BTC may reach an all-time record high in excess of $86,000.
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Source: watcher.guru
