NEW YORK, July 9, 2024 — Australia's top stock exchange, the Australian Securities Exchange (ASX), has approved its second Bitcoin ETF, reflecting increasing demand for Bitcoin investment options in the mainstream Australian market.

On July 9th, the ASX authorized digital asset manager DigitalX to launch a new spot Bitcoin ETF, set to begin trading on July 12th under the ticker BTXX. This follows the ASX's approval of its first Bitcoin ETF, the VanEck Bitcoin ETF, in June.

The approval aligns with the global trend of Bitcoin ETFs gaining traction, particularly following their successful introduction in the U.S. earlier in 2024.

Australia has been advancing in the Bitcoin ETF space, with the first spot Bitcoin ETF, the 21Shares Bitcoin ETF (EBTC), launching on the Cboe Australia exchange in April 2022. More recently, the Monochrome Bitcoin ETF (IBTC) began trading on the Cboe in June.

With the ASX's latest approval, Australia continues to build momentum in Bitcoin ETFs, reflecting a growing investor appetite for regulated investment vehicles rather than direct Bitcoin ownership. ETFs offer a straightforward way to invest in Bitcoin without the complexities of custody, and many anticipate that more countries will follow suit as regulatory acceptance broadens.

By approving another Bitcoin ETF, the ASX signals a favorable shift in attitudes towards Bitcoin assets within one of the world's leading financial markets.