Australia\'s ASX Approves the DigitalX Spot Bitcoin ETF, Opening the Door for Institutional Investment, as BTXX Commences Trading on Friday

A statement by the ASX-listed digital asset fund manager reveals that DigitalX's Bitcoin ETF will trade under the BTXX ticker.

Australia’s stock exchange has approved DigitalX’s spot Bitcoin ETF, paving the way for institutional investment, as BTXX begins trading on Friday.

A statement by the ASX-listed digital asset fund manager shows that DigitalX’s Bitcoin ETF will trade under the BTXX ticker. The Bitcoin ETF issuance was approved by the ASX in a partnership where KR Asset Management (KAM) acts as the responsible entity.

DigitalX will be utilizing KAM’s experience in managing ASX-listed ETFs, financial services licenses, and compliance systems.

DigitalX is partnering with 3iQ, a Canadian digital assets investment firm that was behind the first crypto ETFs in Toronto. 3iQ will be distributing the ETF in the international market.

A press release by DigitalX chief executive Lisa Wade states that the approval of the Bitcoin ETF marks a watershed moment for the Australian crypto investment space.

Wade describes DigitalX’s Bitcoin ETF as enabling Australians to invest in BTC in a secure and cost-efficient manner without having to directly manage digital wallets. The exec adds that the DigitalX Bitcoin ETF provides ASX clients with direct access to BTC through a liquid and regulated fund structure.

Australia’s Bitcoin ETF Wave

DigitalX states that it will be bringing its expertise in digital asset management to Australians seeking cost-effective and secure access to Bitcoin. DigitalX chair Toby Hicks shared the sentiment as he celebrated a decade of ASX listing and DigitalX input in developing digital asset investments for Australians.

DigitalX’s BTXX launch comes after the ASX approved VanEck’s spot Bitcoin ETF (VBTC) several weeks ago. Notably, VanEck is one of the ten US-approved Bitcoin ETF issuers, and data from Farside Investors shows that the total net inflows have exceeded $15 billion since launching in January.

DigitalX follows the footsteps of Monochrome Bitcoin ETF (IBTC), which was listed earlier in June on the Cboe Australia exchange, the smaller rival of the ASX. In contrast to the years of constant denials and delays in the United States, Australia has seen the launch of three Bitcoin ETFs in a month.

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