DIGITALX will launch a Bitcoin exchange-traded fund (ETF) on Australia’s main stock market after becoming the second asset manager to win approval for such a product from the bourse operated by ASX.
The DigitalX Bitcoin ETF will be listed on Jul 12 under the ticker BTXX, according to a statement from the company on Tuesday (Jul 9). The fund has been established in partnership with K2 Asset Management and 3iQ, DigitalX said.
The DigitalX listing comes just weeks after ASX approval for VanEck’s Bitcoin ETF last month. Sydney-based fund manager BetaShares Holdings has also applied to launch Bitcoin and Ether ETFs on the ASX.
“I believe this will attract new entrants into the market and ultimately allow institutions to include Bitcoin and digital assets into strategic asset allocations,” said Lisa Wade, chief executive officer of DigitalX. “That’s really why we did it, but that is a much longer game.” BLOOMBERG
