HomeBitcoin NewsAustralian Crypto Market Sees Surge in Activity

Australian Crypto Market Sees Surge in Activity

Exciting News for Australian Investors: DigitalX Bitcoin ETF BTXX to be Listed on ASX Starting July 12

Australia is set to welcome a new player in the world of Bitcoin ETFs as the ASX stock exchange prepares for the listing of the DigitalX Bitcoin ETF with the ticker BTXX on July 12. This marks the second Bitcoin ETF to be approved on the ASX, following closely behind the VanEck ETF approved last month.

DigitalX, a wealth management company specializing in blockchain, has obtained approval to introduce its spot Bitcoin ETF, making it the second to be traded on the Australian Securities Exchange. The ETF will be listed on July 12 at 10:00 local time, offering ASX investors direct access to Bitcoin through a regulated and liquid fund structure.

CEO of DigitalX, Lisa Wade, described the approval of BTXX as a “decisive moment” for the company, while President Toby Hicks expressed excitement at the growth and development of the digital asset markets in Australia.

DigitalX has partnered with K2 Asset Management and 3iQ to promote and distribute the product both locally and internationally. This move comes shortly after the approval of VanEck’s spot Bitcoin ETF, which saw a trading volume of $1.3 million on its first day.

In the United States, spot Bitcoin ETFs have seen record inflows, with BlackRock’s IBIT fund leading the way with $187 million in inflows. Fidelity’s FBTC and Grayscale’s GBTC also saw significant inflows, reflecting the growing interest in cryptocurrency investments.

The cryptocurrency market has experienced a bear trend recently due to Mt. Gox reimbursements and government wallet activities. The German government has been selling Bitcoin, with reports indicating they have sold almost half of their original holdings. Meanwhile, Mt. Gox victims will receive reimbursements through designated cryptocurrency exchanges.

Overall, the approval of the DigitalX Bitcoin ETF and the record inflows in the United States signal a growing interest in cryptocurrency investments and the potential for further growth in the market.

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