# First Bitcoin ETF Debuts on Australia's Main Stock Market By Sheena Jordan Canonical URL: https://www.tokenpost.com/news/business/12084 Published: 2024-06-20T09:00:30.000Z Updated: 2024-06-20T09:00:30.000Z Section: Business > Australia's first Bitcoin ETF has been listed on the ASX, marking a significant milestone and reflecting cryptocurrency's growing influence in the Asia-Pacific region. Australia's first Bitcoin ETF has been listed on the ASX, marking a significant milestone and reflecting [ cryptocurrency]()'s growing influence in the Asia-Pacific region. Australia Joins Global Trend with VanEck Bitcoin ETF Debut on ASX, Reflecting Growing [ Cryptocurrency]() Influence in Asia-Pacific Markets According to [Bloomberg](), marking a significant milestone, Australia has joined the global trend of bitcoin ETF listings with the debut of an exchange-traded fund on its primary stock market. This move follows similar listings in the United States and Hong Kong earlier this year, underscoring the growing influence of [ cryptocurrency]() in the Asia-Pacific region's virtual-asset market. On June 20, the [VanEck Bitcoin ETF]() made its début on the ASX Ltd exchange, with a seed investment of approximately A$985,000 (RM3.1 million). The product is a feeder fund for the US$647 million VanEck Bitcoin Trust held in the United States. In January, US bitcoin ETFs were launched and have since amassed US$56 billion in assets, causing a significant stir on Wall Street. As permitted in April, interest in spot ETFs for bitcoin and ether in Hong Kong has been a fraction of that of the US vehicles. BetaShares Holdings Pty, a Sydney-based company, and DigitalX Ltd, another local participant, also register for listings on the primary Australian Board. A spokesperson for the ASX has stated that VanEck is the sole applicant to have received a green light thus far and that discussions with other issuers are ongoing. CBOE Australia Offers [ Crypto]() ETFs as Asia-Pacific Region's Virtual-Asset ETF Market Predicted to Exceed $3 Billion The other bourse in the country, [CBOE Australia](), already offers [ crypto]() ETFs. Global X 21Shares Bitcoin, Global X 21Shares Ethereum, and Monochrome Bitcoin, the latter, have a combined asset value of approximately US$90 million. Looking ahead, Bloomberg Intelligence senior ETF analyst Rebecca Sin predicts that the Asia-Pacific region’s potential for virtual-asset ETFs will exceed US$3 billion in the coming years. This projection, expected to be evenly distributed between Australia, Hong Kong, and South Korea, highlights the region's growing interest in [ cryptocurrency]() investments. In a resurgence from a severe bear market, Bitcoin has nearly quadrupled in value since the beginning of 2023. In March, the rally reached a record high of US$73,798; however, momentum has since halted, and the token has fallen. Photo: [Microsoft Bing]() [TokenPost]() | info@tokenpost.com ## Links in this article - [cryptocurrency](https://www.econotimes.com/First-Bitcoin-ETF-Debuts-on-Australias-Main-Stock-Market-1679927#) - [Bloomberg](https://www.bloomberg.com/news/articles/2024-06-20/bitcoin-btc-etf-lists-on-main-australian-stock-market-for-first-time) - [VanEck Bitcoin ETF](https://www.bloomberg.com/quote/VBTC:AU) - [CBOE Australia](https://www.bloomberg.com/quote/0278393D:AU) - [Microsoft Bing](https://www.bing.com/images/create/first-bitcoin-etf-debuts-on-australia27s-main-stock/1-667396c5c3b547e6ab7967d63e5ee436?id=JqL0Ztva6KrOEjt%2bANiwUQ%3d%3d&view=detailv2&idpp=genimg&thId=OIG3.tKtc8Na_ru7VuHZ6sk9g&FORM=GCRIDP&mode=overlay) - [TokenPost](https://www.tokenpost.com)