Australia’s DigitalX To List Spot Bitcoin ETFs On ASX

Major Takeaways:

• On July 9, Australia’s DigitalX (DCC.AX)announced that it has obtained approval to list its Spot Bitcoin exchange-traded fund on the Australian Securities Exchange. This will make DigitalX the second asset manager after VanEck to secure approval for the ASX listing.
• The DigitalX Bitcoin ETF will be listed on the ASX Exchange later this month on July 12 under the ticker BTXX. K2 Asset Management (KAM.AX), opens new tab will act as the issuer of this ETF and digital asset manager 3iQ will promote and distribute this ETF domestically and internationally.

BTCC , one of the longest-running exchange in the world, offers spot trading and over 300 virtual currency futures contracts trading with leverage up to 500Χ. If you are interested in crypto trading in Australia, you can start your trading journey by signing up for BTCC.

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DigitalX Gears to Launch Spot Bitcoin ETF on Australia’s ASX Exchange

DigitalX Ltd. will launch a Bitcoin exchange-traded fund on Australia’s main stock market after becoming the second asset manager to win approval for such a product from the bourse operated by ASX Ltd.

The recent listing of ETF by DigitalX comes just week after ASX approval for VanEck’s Bitcoin ETF last month. Additionally, Sydney-based fund manager BetaShares Holdings Pty has also applied to launch Bitcoin and Ether ETFs on the ASX.

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Significance of DigitalX’s Launch of Spot Bitcoin ETFs on ASX

There is no doubt that listing on the ASX Exchange represents a major milestone, as it can usher in more liquidity and trading volume for the Bitcoin ETFs. According to Bloomberg, VanEck Bitcoin ETF on ASX is expected to attract $1 billion in inflows.

“I believe this will attract new entrants into the market and ultimately allow institutions to include Bitcoin and digital assets into strategic asset allocations,”said Lisa Wade, chief executive officer of DigitalX. “That’s really why we did it, but that is a much longer game.”

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Spot Bitcoin ETFs See 3-Week High Inflow

Triggered by the return of stolen Bitcoins from the 2014 Mt.Gox hack and recent BTC transfers by the German government, the past few weeks have witnessed a sluggish crypto market. Amid weak crypto market, Spot Bitcoin ETFs saw nearly $295 million in net inflows on July 8, recording inflows for two consecutive days and starting the week with massive buying.

This indicates institutional investors are buying the dip heavily despite the German govt BTC selloff and key macroeconomic events this week. Institutional buying signals high chances of Bitcoin rally to above $60k. Experts are overall bullish on BTC price and believe Mt. Gox creditors are not likely to sell their Bitcoin in this bull market.

About DigitalX

DigitalX is an asset management company operating in Australia with significant presence and influence in the financial markets, particularly in the digital currency space. As a major player in the Australian financial market, DigitalX focuses on asset management, particularly in the area of digital currencies and blockchain technology.

By launching innovative financial products such as the Bitcoin ETF, DigitalX is committed to providing investors with a more convenient and cost-effective way to invest, while also driving progress in the acceptance of innovative financial products in the Australian financial market. As the digital currency market continues to evolve, DigitalX is expected to continue to play its important role in the future, creating more value for investors.

Where to Buy Bitcoin in Australia?

If you want to trade Bitcoin(BTC) in Australia, we advise you to start with BTCC, one of the longest-serving exchanges in the world. As a old exchange enjoy good reputation, BTCC is more reliable.

BTCC is among the best and safest platforms to buy Bitcoin(BTC). The reasons why we introduce BTCC for you set forth as below:

Industry-leading security

BTCC attaches great importance on security. Since founded in 2011, BTCC has never been hacked or been a victim of any other kind of successful malicious attack, which fully illustrates its security capabilities. Through measures like segregation of assets, 1:1 storage of users’ assets, money laundering prevention and identity authentication and no collateralising tokens for loans, BTCC enjoys good reputation in asset security.

High Liquidity & Volume

BTCC is ranked top 10 by trading volume on both CoinMarketCap and CoinGecko, the world’s two largest crypto information platforms. BTCC prides itself on providing crypto futures trading services to users worldwide with market-leading liquidity, offering perpetual futures on over 300 cryptocurrencies, including BTC, ETH, DOGE, LTC, SOL, XRP, SHIB, etc.

Extremely low fees

Charging high fees means less return for investors. Compared with other major exchanges, BTCC only charges 0.06% for both takers and makers, which are far below the industry average. According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is 0.2294% and the maker fee is 0.1854%.

High and rich bonus

BTCC holds all kinds of campaigns where investors can participate to win exciting bonus. For example, new users can get rewards up to 10,055 USDT coupon through completing relevant missions, like registration, identity verification, first deposits, cumulative futures trading volume, etc. Besides, becoming VIP also can enjoy rewards like VIP-exclusive perks, including discounts on trading fees, access to exclusive campaigns, BTCC merch, priority customer support, fast withdrawal, and many more.

Excellent customer service

BTCC also gains great reputation in terms of customer support. If you are confused or have problem in the process of trading currencies, you can obtain customer support via email and live chat, BTCC offers 24/7 online customer service for you.

Related article:Buy Bitcoin (BTC) Australia: A Comprehensive Guide For 2024

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