ASX Australia Welcomes New Bitcoin ETF Launched By DigitalX

ASX Australia welcomes New Bitcoin ETF launched by DigitalX (Photo; Doc. Nine)

JAKARTA - The Australian Stock Market (ASX) will welcome the new Bitcoin Exchange-Trad (ETF) launched by DigitalX Limited. This ETF, codenamed BTXX, will start trading on Friday, July 12, 2024, at 10:00 a.m. AEST.

DigitalX, the digital asset fund manager, has partnered with ASX-listed K2 Asset Management, which will act as the Responsible Publisher for this ETF. K2 brings experience in managing ASX-listed ETFs, compliance systems, and meets Australia's financial services license requirements.

In addition, DigitalX will collaborate with 3iQ to promote and distribute these ETFs both in Australia and internationally. 3iQ has a proven track record in managing and distributing digital asset ETFs globally.

Quoted from Crypto Potato, in a press release on July 9, DigitalX CEO Lisa Wade expressed her enthusiasm for this new offering. We are pleased to now be able to bring and offer this spot's Bitcoin ETF to the Australian market. This is an important moment for us as a business and for the Australian digital asset investment market.

Wade also noted that DigitalX has one of the longest track records in the world in managing digital assets and is excited to share their expertise with Australians to provide secure access to Bitcoin. He highlighted that their offering would allow Australians to invest in Bitcoin without the need to manage digital wallets in a cost-effective and secure manner.

Pioneer Spot Bitcoin ETF On ASX

Spot Bitcoin ETF DigitalX is one of the first of its types registered on ASX in more than six years, following the launch of the spot's Bitcoin ETF in the US earlier this year.

With the new BTXX code, this new ETF offers investors direct access to Bitcoin through regulated and liquided fund structures, making it easier to integrate digital assets into their portfolios.

DigitalX chairman Toby Hicks has been reflecting on the company's decade-long journey since it was listed on ASX. "When we celebrated 10 years since DigitalX was registered with ASX, it was great to see the growth and development of the digital asset market as reflected in the approval of DigitalX's Bitcoin spot ETF to be quoted on ASX," Hicks said.

Hicks praised K2 Asset Management's collaborative efforts and stressed DigitalX's commitment to leading digital asset investment development in a obedient, secure and secure manner.

With this launch, DigitalX and its partners hope to encourage wider adoption of digital assets in Australia, providing an easy and safe way for investors to engage in the growing Bitcoin market.