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Australia to Launch Spot Bitcoin ETFs by Year-End, Joining Global Trend

Australia to Launch Spot Bitcoin ETFs by Year-End, Joining Global Trend

Australian investors can expect to trade spot Bitcoin ETFs on the ASX exchange by the end of 2024. Several issuers, including VanEck, BetaShares, and DigitalX, have already submitted applications.

This follows the successful launch of spot Bitcoin ETFs in the US and upcoming listings in Hong Kong. Australia’s ETF market is dominated by ASX, managing around 80% of the local trades.

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Bitcoin ETF Landscape Sees Mixed Signals

While the US saw significant inflows initially, Bitcoin spot ETFs experienced net outflows of $328 million in the last week of April. Investor concerns regarding a crypto market sell-off and new DTCC collateral rules might have contributed to the outflow. The future of Bitcoin ETF flows remains uncertain, especially with Bitcoin facing potential volatility.

Hong Kong Approves Spot Bitcoin and Ether ETFs

Hong Kong is set to list its first spot Bitcoin and Ether ETFs on April 30th. Hong Kong’s approval of spot Ether ETFs comes before the US, potentially attracting investors seeking Ether exposure. Analysts believe Hong Kong is well-positioned to become a leading crypto hub with these innovative products.

But Mainland China Investors Remain Excluded

These ETFs are issued by Chinese asset managers with Hong Kong subsidiaries, but mainland China investors cannot participate. Strict regulations in China prohibit any financial institutions from facilitating crypto transactions.

Upcoming Spot Crypto ETFs in Hong Kong Offer Unique Features

Unlike existing ETFs, these products will allow investors to subscribe and redeem shares using Bitcoin and Ether directly. This feature caters to investors who want to convert their crypto holdings into ETF shares without selling their underlying assets.

The launch of spot Bitcoin ETFs in Australia and Hong Kong marks a significant step towards wider adoption of cryptocurrency investments. However, regulatory hurdles and market volatility continue to pose challenges for the industry.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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