Australia to Get Second Spot Bitcoin ETF on ASX

Perth-based DigitalX has received approval to list its new spot Bitcoin exchange-traded fund (ETF) on the Australian Securities Exchange (ASX) this week. An ETF is an investment fund traded on the stock market, allowing investors to buy and sell shares easily. The DigitalX spot Bitcoin ETF (BTXX) will be the second Bitcoin ETF on the ASX, following VanEck’sBitcoin ETF, which started on June 20.

This fund lets investors buy Bitcoin directly through a regulated and secure method. DigitalX CEO Lisa Wade said the ETF offers a straightforward way for people to invest in Bitcoin.

BTXX will begin trading on Thursday at 8:00 pm ET, with K2 Assessment Management overseeing the fund’s compliance with regulations. Digital asset investment firm 3iQ and DigitalX will promote and distribute the ETF both in Australia and internationally.

The ASX handles about 80% of Australia’s stock trading and is considered more reliable and widely accepted than its competitor, Cboe Australia. Listing an ETF on the ASX requires meeting strict rules to ensure investor protection. Once approved, the ETF can be traded publicly.

Unlike VanEck’s ETF, which is tied to a U.S.-listed Bitcoin fund, DigitalX’s BTXX will only follow Australian regulations. This means local investors won’t be affected by U.S. political changes. Australia has been offering similar products for over two years. With BTXX’s launch, Australian investors will have another secure and simple option for investing in Bitcoin, reflecting the country’s growing interest in digital assets.

Image source: The Block