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3 things to know about the first Bitcoin ETF on the ASX

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Thomas Stelzer
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The ASX gets its first Bitcoin ETF tomorrow - these are the key takeaways.

In case you weren't aware, Australia has now firmly joined the Bitcoin ETF party.

After the record-breaking launch of the first Bitcoin ETFs in the US in January, Australia's largest stock exchange is about to get an ETF of its very own.

On Thursday, VanEck will launch its new Bitcoin ETF (exchange-traded fund) on the Australian Securities Exchange (ASX).

Is this a big deal?

Yes and no. This is actually the third Bitcoin ETF to trade in Australia, after the Monochrome Bitcoin ETF (IBTC) and Global X 21Shares Bitcoin ETF (EBTC), which both trade on the Cboe exchange.

However, this will be the first Bitcoin ETF to trade on the ASX, which means it may be more accessible to retail investors looking to dip their toes in the cryptocurrency waters.

How can I buy it?

The VanEck Bitcoin ETF will trade under the ticker VBTC on the ASX.

It should be available to trade from tomorrow through any trading platform or stock broker that offers access to the ASX.

Does this mean other crypto ETFs are on the way?

Almost certainly.

Other ETF providers like Betashares and DigitalX have applied to launch their own Bitcoin ETFs, and will also pursue Ethereum ETFs, which were approved in the US last month.

However, while this is likely to open the door to further crypto-related index funds, the Australian Securities and Exchange Commission (ASIC) has cautioned investors about the potential dangers.

"ASIC has repeatedly warned investors that crypto is risky, inherently volatile and complex. Investing in it is a highly speculative activity," said an ASIC spokesperson.

Looking for a low-cost online broker to invest in the stock market? Compare share trading platforms to start investing in stocks and ETFs.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.

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2 Responses

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    paulJune 22, 2024

    what is the fee charged on vbtc

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      AvatarFinder
      SarahJune 28, 2024Finder

      Hi Michael,

      Transaction fees aren’t usually charged by Amex, but they can be charged by the retailers when you spend. Amex fees are often higher than visa and mastercard, and can be up to 3%.

      Hope this helps!

      Reply

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