DigitalX Bitcoin ETF Debuts on ASX Amid Rising Investor Interest

• DigitalX launches its spot Bitcoin ETF, trading as BTXX on ASX, providing regulated access to Bitcoin for Australian investors.
• Strategic partnerships with K2 Asset Management and 3iQ aim to ensure broad reach and efficient distribution of DigitalX’s Bitcoin ETF.
• Rising interest in Bitcoin ETFs in Australia is reflected by DigitalX’s launch, following VanEck and Betashares’ similar initiatives.

DigitalX Ltd, a blockchain-focused asset manager, is excited to announce the launch of its spot Bitcoin ETF, which will trade under the ticker BTXX on the Australian Securities Exchange (ASX). This major milestone was confirmed in a July 8 post from DigitalX, highlighting the importance of the listing, set for July 12 at 10:00 AM AEST.

A Pivotal Moment for DigitalX and the Australian Market

Lisa Wade, the CEO of DigitalX, called this announcement a major one for the business and for the Australian digital asset investment industry. As stated by Wade, the DigitalX Bitcoin ETF is a spot ETF which makes ASX clients invest in Bitcoin through a regulated and liquid fund at the same time. Thus having this Australian investors will now be able to acquire more digital assets.

Furthermore, DigitalX has partnered with investment management firm K2 Asset Management to act as the responsible entity and issuer of the ETF. Additionally, cryptocurrency-focused investment firm 3iQ will collaborate with DigitalX to promote and distribute the ETF across Australia and internationally. This strategic partnership aims to ensure a broad reach and efficient distribution of the product.

Competition and Growing Interest in Bitcoin ETFs

Besides the approval of DigitalX’s ETF, VanEck’s spot Bitcoin ETF (VBTC) commenced trading on the ASX on June 20. However, its trading volume on the first day was $1.3 million, significantly lower than the daily average of $450 million seen by the nineBitc US spot Bitcoin ETFs during their initial trading period. As of July 9, VBTC had recorded approximately $475,000 in trading volume, indicating a cautious yet growing interest among Australian investors.

Notably, the Australian market is seeing an increase in interest in Bitcoin ETFs at the same time that DigitalX launches. According to a Bloomberg story from April, Betashares, another fund manager based in Australia, is also pursuing a Bitcoin ETF on the ASX. Because of this, fund managers are competing more fiercely to take advantage of the increasing market for investments in digital assets. 

An important step forward for Australia’s digital asset market is DigitalX’s spot Bitcoin ETF. It offers investors direct access to Bitcoin via a well-managed and easily accessible fund structure. As a result, Australia’s growing interest in and confidence in digital asset investments is reflected in this launch as well as in current and future ETFs. The regulatory approval and strategic relationships of DigitalX indicate a strong foundation for the company’s future growth in this industry.