Sydney-based asset manager DIGITALX has been approved by the Australian Securities Exchange (ASX) to launch a Bitcoin ETF, marking the second Bitcoin ETF approved by the country’s premier stock market.
The DigitalX Bitcoin ETF, with the ticker BTXX, will be listed on July 12. The ETF, partnered with K2 Asset Management and 3iQ, aims to attract new market participants and help institutional investors incorporate Bitcoin and digital assets into their portfolios.
The approval follows VanEck’s Bitcoin ETF (VBTC) and BetaShares Holdings’ application to launch Bitcoin and Ethereum ETFs on the ASX. Australia has already seen the introduction of Bitcoin ETFs, such as the Global X 21 Shares Bitcoin ETF (EBTC) and the Monochrome ETF (IBTC) on the Cboe Australia exchange.
Bitcoin ETFs have seen a significant inflow of nearly $300 million in the US, causing a 3% price increase in 24 hours. Despite selling pressure due to factors like Mt. Gox’s repayments and the German government’s BTC sales, the inflow into Bitcoin ETFs suggests investors are looking to buy Bitcoin at lower prices, indicating bullish sentiment.
