VanEck's Bitcoin ETF (VBTC) made its debut on the Australian Securities Exchange (ASX), marking a significant step in Australia's adoption of cryptocurrency investment vehicles.
The ETF, which tracks VanEck's U.S.-based Bitcoin Trust (HODL), ended its first trading day with a 1% increase, closing at A$20.06 ($13.4) after trading nearly 100,000 shares.
ASX, the country's largest equity exchange, approved the listing earlier in the week, following the footsteps of smaller exchanges like Cboe Australia where Monochrome Asset Management's Bitcoin ETF (IBTC) launched recently.
This move signals the growing demand and acceptance of Bitcoin (CRYPTO:BTC) ETFs among Australian investors amid a global surge in cryptocurrency investment options.