Exciting News for Crypto Investors in Australia 🚀
Australian asset manager DIGITALX has received the green light from the Australian Securities Exchange (ASX) to introduce a Bitcoin ETF (exchange-traded fund), making it the second product of its kind to be approved by Australia’s top stock market. The DigitalX Bitcoin ETF, known as BTXX, is scheduled to be listed on July 12, as announced by the company in an official statement released on Tuesday.
Launch of the DigitalX Bitcoin ETF
DIGITALX, in partnership with K2 Asset Management and 3iQ, has launched the Bitcoin ETF to meet the increasing demand for cryptocurrency investments linked to the leading digital asset. The CEO of DigitalX, Lisa Wade, believes that the introduction of the Bitcoin ETF will attract new participants to the market and enable institutional investors to include Bitcoin and digital assets in their investment strategies.
- Collaboration with K2 Asset Management and 3iQ for the Bitcoin ETF
- CEO Lisa Wade’s vision for the Bitcoin ETF
Growing Popularity of Bitcoin ETFs in Australia
In addition to the approval of the DigitalX Bitcoin ETF, the ASX recently approved VanEck’s Bitcoin ETF (VBTC) and received an application from BetaShares Holdings to launch Bitcoin and Ethereum ETFs. Notably, the Australian market has seen the introduction of two other Bitcoin ETFs in the past two years, including the Global X 21 Shares Bitcoin ETF (EBTC) and the Monochrome ETF (IBTC).
Bullish Trend for Bitcoin in July
The US Bitcoin ETF market experienced a significant inflow of nearly $300 million on Monday, leading to a 3% surge in Bitcoin’s price within a 24-hour period. Despite a recent price drop to $53,500 from its peak of $70,000, Bitcoin is currently trading at $57,300, showing resilience in the face of selling pressure.
- Key factors influencing Bitcoin’s price
- Market sentiment towards Bitcoin accumulation
Historical Performance and Outlook for Bitcoin
July has historically been a favorable month for Bitcoin, with an average return of 7.98% and a median return of 9.60%. This positive trend is expected to continue, supported by optimistic macroeconomic factors and renewed interest in Bitcoin ETFs. Investors are showing interest in accumulating Bitcoin at discounted prices, indicating a bullish sentiment in the market.
Hot Take: Seize the Opportunity 🌟
The approval of the DigitalX Bitcoin ETF by the ASX presents a unique opportunity for crypto investors in Australia to diversify their portfolios and tap into the growing market for digital assets. With the increasing popularity of Bitcoin ETFs and positive market sentiment towards cryptocurrencies, now is the perfect time to explore investment opportunities in this dynamic sector. Stay informed, stay ahead, and embrace the future of finance with the DigitalX Bitcoin ETF!
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