According to recent reports, the Australian Securities Exchange, which is responsible for most of the trading in Australia, will approve Australia’s first bitcoin spot ETFs before 2024. Bloomberg report Anonymous sources who are familiar with the issue.
BREAKING: 🇦🇺 Australia to approve the spot #Bitcoin Bloomberg: ETFs by the year 2024 pic.twitter.com/pK7XadHhto
— Bitcoin Magazine (@BitcoinMagazine) April 29, 2024
Cosmos Asset Management & 3iQ have both applied for the prestigious ‘Certified Financial Institutions’. spot bitcoin ETFs Bloomberg reports that VanEck Australia has submitted its application to the ASX while VanEck Australia continues working on it.
Monochrome, an asset management company based in Australia, applied earlier this month for a bitcoin ETF at Cboe Australia.
A major bitcoin ETF launch is expected to follow in Hong Kong, the US and other countries. SEC has approved several US Bitcoin ETFs that attracted over 200 billion dollars in trading volume.
Hong Kong is also set to launch its first bitcoin ETF. begin trading tomorrow Following regulatory approval received last week.
This success is due to the fact that spot Bitcoin ETFs are traded in major financial markets. financial Australia has been influenced by hubs to take the lead. Australia will be able to take advantage of the booming demand for bitcoins with ASX likely to approve ETFs that track spot prices by the end of this year.
It is an important milestone in the adoption of Bitcoins by Australians and shows that Bitcoins are becoming more popular as investments. In the wake of US approval, more countries are now approving spot Bitcoin ETFs. This further validates Bitcoin.
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Source: bitcoinmagazine.com
