As a seasoned crypto investor with a keen interest in Bitcoin ETFs, I’m thrilled to see DigitalX’s upcoming listing on Australia’s ASX Exchange. This development comes hot on the heels of VanEck’s successful launch last month and further solidifies the growing acceptance of digital assets by traditional financial institutions.
I’ve recently discovered that DigitalX intends to debut a Bitcoin spot ETF on the ASX Ltd., Australia’s primary stock exchange. If successful, DigitalX will become the second financial institution to gain approval for such a listing, following in the footsteps of VanEck.
DigitalX Bitcoin ETF to Go Live On July 12
According to the company’s announcement on July 9, the DigitalX Bitcoin ETF is scheduled to begin trading on the ASX Exchange on July 12 under the ticker BTXX. In this upcoming Bitcoin ETF project, DigitalX will collaborate with K2 Asset Management and 3iQ.
I’ve noticed that DigitalX recently listed an ETF on the ASX, which follows closely on the heels of VanEck’s arrival in June. Furthermore, BetaShares Holdings Pty has applied to introduce Bitcoin and Ether ETFs on the same exchange. Regarding this trend, Lisa Wade, CEO of DigitalX, shared her perspective:
“I think this will encourage more players to join the market, leading eventually to Bitcoin and other digital assets being incorporated into institutional investment portfolios. That was our goal, although achieving it is a longer-term prospect.”
Reaching the ASX Exchange is a significant achievement for Bitcoin ETFs, as it can lead to increased liquidity and trading activity. According to Bloomberg’s estimation, the VanEck Bitcoin ETF on ASX could potentially draw in $1 billion worth of investments.
US Spot BTC ETF Sees Strong Inflows
This week began with a robust momentum as US Bitcoin spot ETFs experienced significant inflows totaling $295 million on July 8. Simultaneously, the Bitcoin price fell to approximately $54,000. Consequently, ETF investors and companies like Metaplanet seized the opportunity to buy Bitcoin during this decline.
As a researcher studying Bitcoin investment flows on Monday, I observed no outflows from any Bitcoin funds or exchanges. Notably, the Blackrock Bitcoin Investment Trust (IBIT) recorded the largest inflows with approximately $187 million. Fidelity’s Bitcoin Treasury Class (FBTC) followed closely behind with inflows of around $61.5 million. Surprisingly, Grayscale Bitcoin Trust (GBTC) also experienced inflows totaling about $25 million.
The past two reading sessions have shown an increase in inflows, indicating a potential speeding up of trends that could lead to a significant reversal for Bitcoin in July. After dipping below $53,500 yesterday, the price has bounced back to $57,500 as of now.
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2024-07-09 08:26