DigitalX Receives Regulatory Approval for Its Spot Bitcoin Exchange-Traded Fund (ETF) from the Australian Securities Exchange (ASX)

The DigitalX Bitcoin ETF is set to launch on July 12 at 10 am local time.

DigitalX’s Bitcoin ETF will trade under the ticker code BTXX on the Australian Securities Exchange (ASX). Here are some key figures and dates related to the ETF:

Launch Date: The DigitalX Bitcoin ETF is set to launch on July 12 at 10 am local time.

Ticker Code: The ETF will trade on the ASX under the ticker code BTXX.

Investment Objective: The DigitalX Bitcoin ETF aims to provide investors with spot exposure to Bitcoin, tracking the performance of the DigitalX Bitcoin Spot Index throughout each trading day.

Indicative Net Asset Value (iNAV): The indicative net asset value (iNAV) of the DigitalX Bitcoin ETF will be calculated and published throughout each trading day by DigitalX. The iNAV will be used to determine the indicative price of the ETF units.

Minimum Parcel Size: The minimum parcel size for the DigitalX Bitcoin ETF is 50 units, which equates to an investment of approximately $2,500 at the launch price of $50.06 per unit.

Management Fee: The DigitalX Bitcoin ETF will have a management fee of 0.65% per annum, charged on the net asset value of the ETF.

Impact of DigitalX’s Bitcoin ETF Approval

The approval of DigitalX’s Bitcoin ETF marks a significant development in the Australian digital asset landscape. Here are some potential impacts of this approval:

Increased Access to Bitcoin: The DigitalX Bitcoin ETF provides investors with a convenient and regulated way to gain exposure to Bitcoin. This ETF is designed to track the spot price of Bitcoin throughout each trading day, offering investors a direct and precise investment vehicle.

Diversification Options: The DigitalX Bitcoin ETF expands the range of investment options available on the ASX, particularly for investors seeking to diversify their portfolios with digital assets. This ETF can complement existing equity, fixed income, and commodity investment strategies.

Investment Flows: The approval of the DigitalX Bitcoin ETF may attract new investment flows into the Australian stock market. Institutions, funds, and investors interested in gaining exposure to Bitcoin through a regulated platform could consider investing in this ETF.

Overall, the approval of DigitalX’s Bitcoin ETF is expected to enhance the accessibility, diversification, and investment landscape for digital assets in Australia.

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