News - Will Australia get a Bitcoin ETF?

By Luc Vesters

Will Australia get a Bitcoin ETF?

Bitcoin (BTC)

Australia's largest exchange, the Australian Securities Exchange (ASX), could launch a Bitcoin ETF by the end of this year. This was reported by Bloomberg based on insider sources.

There are currently applications from asset managers VanEck Australia and BetaShares that could still be approved in 2024. According to Bloomberg, money from various pension funds could then also flow into the digital asset class.

The news follows the recent approval of Bitcoin and Ethereum ETFs in Hong Kong. These launch tomorrow, April 30, and could generate up to USD 25 billion in inflows over the long term.

In the US, the listing of Bitcoin spot ETFs has already generated inflows totaling US$12 billion. And a new all-time high for Bitcoin. In view of this performance, it is therefore likely that other countries will also release a corresponding product.

According to further reports, Australian Bitcoin ETFs could generate between US$3 billion and US$4 billion in inflows within the first three years.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out