Bitcoin ETF Lists on Main Australian Stock Market for First Time

An exchange-traded fund investing in <-bsp-bb-link state="{"bbHref":"bbg://securities/XBTUSD%20BGN%20Curncy/GP","_id":"00000190-3532-d5f2-a594-f7367a600000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Bitcoin listed on Australia’s main stock market for the first time, adding to a wave of similar launches this year in the US and Hong Kong.

The <-rte-company state="{"_id":"00000190-3532-d5f2-a594-f7367a640000","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">VanEck Bitcoin ETF debuted Thursday on the exchange operated by ASX Ltd. with a seed investment of about A$985,000 ($657,000). The product is a feeder fund for the $647 million <-rte-company state="{"_id":"00000190-3532-d5f2-a594-f7367a640002","_type":"00000160-4b23-d8bd-adfd-4b3348fd0000"}">VanEck Bitcoin Trust in the US.

US Bitcoin ETFs went live in January and took Wall Street by storm, amassing $56 billion in assets to date. Hong Kong permitted spot ETFs for Bitcoin and Ether in April, which ...