Large Australian Bitcoin ETF Approval Incoming, Unlocks Big Investment Opportunities
Good news everyone, Australia is awaiting for several spot Bitcoin exchange-traded fund (ETFs) launches, mirroring trends in the United States and Hong Kong as main issuers like VanEck and BetaShares are queuing up to list their products, potentially tapping billions in investment.
The Australian Securities Exchange (ASX), which handles most of the country’s equity’s trading, is expected to approve the first spot Bitcoin ETFs for its main board by year-end, following the relentless success of spot Bitcoin ETFs in the United States, which have amassed over $53 billion in 2024 alone, with offerings from giants like BlackRock and Fidelity.
Justin Arzadon, head of digital assets for Sydney-based BetaShares, maintained that inflows in the US “prove digital assets are here to stay,” and added the firm has secured ASX tickers for both spot Bitcoin and spot Ethereum ETFs.
Australia’s massive $2.3 trillion pension market could be a significant driver of inflows, with a quarter of the country’s retirement savings residing in self-managed superannuation programs that allow individuals to control their investments.
This trend of applications poised a second attempt at launching spot Bitcoin ETFs in Australia as couple years ago similar products debuted on the CBOE Australia, a smaller exchange accounting for less than a fifth of equity trading volume.
Nevertheless, these attempts met with limited success. A spot Bitcoin ETF by Sydney-based Cosmos Asset Management was ultimately delisted due to low investor participation while the sole survivor, the Global X 21Shares Bitcoin ETF, has managed only $62 million in assets. Monochrome Asset Management, led by former Binance Australia CEO Jeff Yew, is currently seeking another CBOE listing.
