VanEck and BetaShares Await Approval for Aussie Bitcoin ETF
Last Updated: 06 May 2021
As Australians venture deeper into the crypto market, fund managers in the country are racing to seek approval from regulators for the first Bitcoin ETF.
Two companies that have submitted formal proposals for review and approval by the Australian Securities Exchange (ASX) are VanEck and BetaShares. The move comes despite reports in May suggesting the regulator remains wary of signing-off on a bitcoin ETF.
Plans to launch Bitcoin ETF
The regulator has confirmed that several investment companies have been making plans to launch Bitcoin ETFs. The chief executive for VanEck in the Asia-Pacific, Arian Neiron, stated that the crypto market was growing and if the ASX approved the ETFs, it would create a safe regulated space for investors.