VanEck is in advanced talks with Australian regulators about launching a bitcoin ETF in the country. A bitcoin fund that will be listed on an Australian securities trading platform is scheduled to launch this week.
VanEck and BTC ETF in Australia
According to an official announcement from the asset management company, the ETF will be listed on the Australian Stock Exchange (ASX) on Thursday, June 20. VanEck is a financial giant. It manages assets worth over USD 529 million.
The approval of the VanEck Bitcoin ETF (VBTC) in Australia comes five months after the US Securities and Exchange Commission also gave the green light. It agreed to introduce BTC ETF funds to the market of entities such as: BlackRock, Ark Invest, Grayscale, Fidelity and Bitwise.
If anyone from the latter companies could complain that the ETF approval process took a long time, it is worth mentioning the VanEck issue. This company has been in talks with Australian regulators about launching the funds since the beginning of 2021. Everything took several years due to regulatory obstacles. VanEck re-applied to launch VBTC in February this year. Finally succeeded!
(…) regulated access to (BTC) via ETFs is now a reality in the US, representing a significant step in global (cryptocurrency) acceptance. Despite hurdles to clear in Australia, including regulatory and exchange framework challenges (…), VanEck aims to lead the way in bringing the first Bitcoin ETF to investors on the ASX
– the company said in its press release.
VanEck joins 21Shares and Monochrome
It's worth mentioning that the VanEck Bitcoin ETF is not the first of its kind in Australia. Monochrome Asset Management and 21Shares also have ETFs in this country.
VanEck's product is supposed to stand out due to its high fees. It is supposed to be the cheapest ETF available in the country.
ETH ETFs are also scheduled to launch in the US in the summer.
