Monochrome Asset Management’s Monochrome bitcoin ETF (IBTC) went live on June 4 on the Cboe Australia exchange, a smaller rival of ASX. Unlike VBTC, the fund holds bitcoin directly. Since its launch, IBTC has traded an average of around 55,000 units a day on daily average cash volumes of about A$550,000. Source
The Australian Securities Exchange (ASX) marked a milestone on Thursday with the launch of the country’s first Bitcoin (BTC) exchange-traded fund (ETF) on its main stock market. The VanEck Bitcoin ETF (VBTC) debuted with approximately AUD990,000 ($660,429) in assets, signaling a growing appetite among investors for cryptocurrency-related products. Australia’s Main Stock Exchange Welcomes First Bitcoin ETF The launch comes after more than three years of discussions between fund managers and the ASX, as the exchange operator sought to ensure proper safeguards were in place. While the VanEck Bitcoin ETF will…
In a significant development within the cryptocurrency industry, asset manager Hashdex recently submitted an application to the US Securities and Exchange Commission (SEC) for a combined spot Ethereum and Bitcoin ETF. Ethereum And Bitcoin ETF Merge? Bloomberg ETF expert James Seyffart noted that Hashdex’s proposed ETF would be market cap-weighted and could potentially accommodate additional digital assets as they gain approval from the SEC. Related Reading Hashdex already operates a successful crypto index ETF in Brazil, known as HASH11, which primarily consists of Bitcoin and Ethereum, making it a logical step…
Spot Bitcoin (BTC) exchange-traded fund (ETF) outflows continued as the week started. Consequently, the total net inflows of the investment products in the U.S. dropped below the $15 billion mark. According to data provided by Farside Investors, spot Bitcoin ETFs recorded a net outflow of $145.9 million on Jun. 17. Most of the outflows came from the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB), worth $92 million and $50 million, respectively. Moreover, the VanEck Bitcoin Trust (HODL) and Grayscale Bitcoin Trust (GBTC) also had smaller…
Asset manager VanEck is slated to launch Australia’s first-ever spot Bitcoin ETF. According to a blog update, the Australian Securities Exchange (ASX) approved the VanEck Bitcoin ETF for listing on June 20. The titan money manager said its offering would be Australia’s lowest-cost Bitcoin (BTC) ETF. VanEck has been chasing a spot BTC ETF in Australia since 2021, becoming the first entity to formally apply for such products with the ASX. Following success in the U.S. and advanced Aussie regulatory policies, the company refiled its BTC ETF bid back in…
Australia’s securities regulator has issued a cautionary statement to investors ahead of the launch of Bitcoin ETFs on the Australian Stock Exchange (ASX). A spokesperson from the Australian Securities and Investments Commission (ASIC) has warned of the risks involved with cryptocurrencies as the Australian Stock Exchange gave the green light to the country’s first spot Bitcoin exchange-traded fund (ETF), according to a local report. “ASIC has repeatedly warned investors that crypto is risky, inherently volatile and complex.” ASIC spokesperson. According to the official, investors should only risk funds they are…
Vaneck, a global investment firm, has announced the launch of the Vaneck Bitcoin ETF (VBTC), the first Bitcoin exchange-traded-fund on the Australian Securities Exchange (ASX). Set to commence trading on June 20, 2024, the ETF is touted as the most cost-effective Bitcoin fund exposure in Australia. Arian Neiron, Vaneck’s CEO for the Asia-Pacific region, emphasized […] Source
BlackRock’s chief investment officer for ETF and index investments, Samara Cohen, has hinted that financial advisors remain “wary” of adopting spot Bitcoin (BTC) exchange-traded funds (ETFs) despite the success recorded by the investment vehicle. Despite attracting over $50 billion in investments since going live in January 2024, Bitcoin ETFs still face a sluggish uptake among financial advisors. According to Cohen, approximately 80% of Bitcoin ETF purchases originate from self-directed investors who have made their own allocation through an online brokerage account. Cohen has highlighted that financial advisors remain cautious of…
The Australian Securities Exchange (ASX) will debut its first exchange-traded fund directly investing in Bitcoin (BTC) on June 20. The VanEck Bitcoin ETF to launch on ASX According to reports, the first Bitcoin ETF to debut on Australia’s primary stock market is the VanEck Bitcoin ETF. This spot ETF allows investors to gain exposure to Bitcoin through a regulated, transparent, and well-established investment vehicle. Ever since the Gary Gensler-led Securities and Exchange Commission (SEC) greenlighted the U.S.’s first spot Bitcoin ETF in January, other regions have been scampering to join…
Ethereum is under pressure at press time, tumbling roughly 15% from March 2024. As sellers press on, reversing all gains posted from May 20, on-chain data points to a bullish picture. Ethereum HODLers Scoop 298,000 ETH In 24 Hours Taking to X, one analyst notes a spike in ETH demand, especially from permanent holders. Most likely, these permanent holders are institutions with deeper pockets and are willing to hang on. Unlike retailers, these entities can often choose to hold for longer and won’t be shaken out by market volatility. Ethereum…