The Australian Securities Exchange has approved the VanEck Bitcoin ETF to start trading on June 20.

The Australian Securities Exchange (ASX) has approved its first spot Bitcoin exchange-traded fund (ETF), which will begin trading on June 20. The VanEck Bitcoin ETF (VBTC), issued by investment firm VanEck, marks a significant milestone in the Australian cryptocurrency market.

VanEck had already launched the VanEck Bitcoin Trust (HODL) in the United States earlier this year, and now extends its offerings to the Australian market. Arian Neiron, CEO for VanEck in the Asia-Pacific region, emphasized the increasing demand for Bitcoin exposure in Australia. He highlighted the appeal of a regulated and transparent investment vehicle that simplifies the complexities of acquiring, storing, and securing digital assets.

This launch follows the introduction of other Bitcoin ETFs in Australia. The Monochrome Bitcoin ETF (IBTC) was approved and started trading on the Cboe Australia exchange on June 4. Monochrome ensures the security of its holdings by storing them offline, in compliance with Australian institutional custody regulatory standards.

Australia's first Bitcoin ETF product was the Global X 21 Shares Bitcoin ETF (EBTC), which debuted in April 2022. The approval of VBTC by the ASX represents a growing acceptance and integration of Bitcoin ETFs within the Australian financial market, offering investors more opportunities to gain exposure to Bitcoin through regulated channels.

These developments reflect the increasing recognition of Bitcoin as an emerging asset class and the growing interest among investors and advisors in accessing Bitcoin through familiar and regulated investment vehicles.