Australia’s ASX Welcomes Another Bitcoin ETF with DigitalX Launch

K2 Asset Management will act as the issuer of the ETF, while digital asset manager 3iQ will promote and distribute it globally.

Jul 10, 2024 - 05:50
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Australia’s ASX Welcomes Another Bitcoin ETF with DigitalX Launch

DigitalX Limited, a digital asset fund manager, announced today the successful approval and upcoming launch of its spot Bitcoin ETF on the Australian Securities Exchange (ASX).

The new spot Bitcoin ETF, under the ticker “BTXX,” will start trading on Friday, July 12, 2024, at 10:00 AM AEST.

DigitalX Teams Up with K2 Asset Management and 3iQ

DigitalX has partnered with ASX-listed K2 Asset Management, which will serve as the Responsible Entity and issuer for the ETF. K2 brings experience in managing ASX-listed ETFs, compliance systems, and meeting Australian financial services license requirements.

Additionally, DigitalX will collaborate with 3iQ to promote and distribute the ETF both in Australia and internationally. 3iQ has a proven track record in managing and distributing digital asset ETFs globally.

In a July 9 press release, DigitalX CEO Lisa Wade expressed her enthusiasm for the new offering, “We are pleased to now be able to deliver and offer this spot Bitcoin ETF to the Australian market. This is a watershed moment for us as a business and for the Australian digital asset investment market.”

Wade further noted that DigitalX has one of the longest track records globally in managing digital assets and expressed excitement about sharing their expertise with Australians to provide secure access to Bitcoin.

She highlighted that their offering would enable Australians to invest in Bitcoin without the need to manage digital wallets in a cost-effective and secure manner.

Pioneering Spot Bitcoin ETF on ASX

The DigitalX spot Bitcoin ETF is among the first of its kind to be listed on the ASX in over six years, following the recent launch of spot Bitcoin ETFs in the U.S. earlier this year.

Trading under the ticker “BTXX,” the new ETF offers investors direct access to Bitcoin through a regulated and liquid fund structure, making it easier to incorporate digital assets into their portfolios.

Toby Hicks, Chair of DigitalX, reflected on the company’s decade-long journey since its listing on the ASX. “As we celebrate 10 years since the listing of DigitalX on the ASX, it is exciting to see the growth and development of the digital asset markets reflected in this approval for the DigitalX spot Bitcoin ETF to be quoted on the ASX,” said Hicks.

He praised K2 Asset Management’s collaborative efforts and emphasized DigitalX’s commitment to leading the development of digital asset investments in a compliant, safe, and secure manner.

The post Australia’s ASX Welcomes Another Bitcoin ETF with DigitalX Launch appeared first on CryptoPotato.

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