{"id":23128,"date":"2024-06-20T14:00:17","date_gmt":"2024-06-20T11:00:17","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23128"},"modified":"2024-06-20T12:07:17","modified_gmt":"2024-06-20T09:07:17","slug":"bitcoin-etf-launches-on-asx-with-modest-trading","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/bitcoin-etf-launches-on-asx-with-modest-trading\/","title":{"rendered":"Bitcoin ETF Launches on ASX with $1.3M Modest Trading"},"content":{"rendered":"<p>With $1.3 million in trading activity, the first Bitcoin exchange-traded fund (ETF) approved for Australia&#8217;s primary stock exchange concluded its first day of trading.<\/p>\n<p>It is much less than the debut trading day for the United States&#8217; spot <strong>Bitcoin ETFs<\/strong>, which averaged over $450 million per and had $4.5 billion of total trading volumes on the first day across ten funds.<\/p>\n<p>Despite the market size discrepancy, investment firm VanEck, the issuer of the <strong>VanEck Bitcoin ETF<\/strong> (VBTC), told Cointelegraph that it is hopeful the product will see similar expansion to <strong>spot Bitcoin ETFs<\/strong> in the United States.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-launches-on-asx-with-modest-trading\/#Retail_Interest_in_Bitcoin_ETF\" title=\"Retail Interest in Bitcoin ETF\">Retail Interest in Bitcoin ETF<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-launches-on-asx-with-modest-trading\/#Comparing_US_and_Australian_Bitcoin_ETFs\" title=\"Comparing U.S. and Australian Bitcoin ETFs\">Comparing U.S. and Australian Bitcoin ETFs<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Retail_Interest_in_Bitcoin_ETF\"><\/span>Retail Interest in Bitcoin ETF<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><em>&#8220;Although most of our flow is retail rather than institutional and the Australian market is far smaller than the U.S., there is a chance we may follow a similar path,&#8221;<\/em> VanEck deputy head of investments and capital markets Jamie Hannah told.<\/p>\n<p>&#8220;We have had a considerable volume of retail and professional investors indicate strong interest in getting bitcoin exposure through ASX,&#8221; Hannah said.<\/p>\n<p>ASX data shows VBTC was trading at $13.24 at market opening and completed the day at $13.34, with 96,476 shares traded throughout the afternoon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Comparing_US_and_Australian_Bitcoin_ETFs\"><\/span>Comparing U.S. and Australian Bitcoin ETFs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The CEO of VanEck in the Asia-Pacific area, Arian Neiron, confirmed on June 15 that demand is rising in Australia, particularly through a &#8220;<em>regulated, transparent, and familiar investment vehicle.&#8221;<\/em><\/p>\n<p><em>&#8220;We understand many advisers and investors wish to access Bitcoin as a growing asset class<\/em>,&#8221; Neiron stated.<\/p>\n<p>By controlling all the back-end complexity, VBTC also makes bitcoin more accessible. He said, &#8220;<em>Knowing the technical aspects of acquiring, storing, and securing digital assets is no longer necessary.&#8221;<\/em><\/p>\n<p>Two other <strong>Bitcoin ETF<\/strong> products have already been introduced in Australia, even though this is the first one on ASX.<\/p>\n<p>Approved recently and beginning trading on Australia&#8217;s second-largest stock exchange, the Cboe Australia exchange, the Monochrome <strong>Bitcoin ETF<\/strong> (IBTC).<\/p>\n<p><strong>The Global X 21Shares<\/strong> <strong>Bitcoin ETF<\/strong> (EBTC) became the first <strong>Bitcoin ETF<\/strong> product ever launched in Australia in April 2022.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>With $1.3 million in trading activity, the first Bitcoin exchange-traded fund (ETF) approved for Australia&#8217;s primary stock exchange concluded its first day of trading. It is much less than the debut trading day for the United States&#8217; spot Bitcoin ETFs, which averaged over $450 million per and had $4.5 billion of total trading volumes on<\/p>\n","protected":false},"author":6,"featured_media":23129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[6905,6904,534],"class_list":["post-23128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asx-bitcoin-etf","tag-australia-bitcoin-etf","tag-bitcoin-etf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin ETF Launches on ASX with $1.3M Modest Trading - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/bitcoin-etf-launches-on-asx-with-modest-trading\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin ETF Launches on ASX with $1.3M Modest Trading - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"With $1.3 million in trading activity, the first Bitcoin exchange-traded fund (ETF) approved for Australia&#8217;s primary stock exchange concluded its first day of trading. 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