Australia’s spot Bitcoin ETFs could see $3 billion to $4 billion of inflows within the first three years, according to Monochrome CEO Jeff Yew.
Australia’s largest stock exchange — the Australian Securities Exchange (ASX) — could greenlight several spot Bitcoin (BTC) exchange-traded funds (ETFs) by the end of 2024.
Following in the footsteps of fund issuers in the United States and Hong Kong, spot Bitcoin ETF applications from VanEck Australia and local ETF-focused fund manager BetaShares are set to be approved before the year is through, anonymous sources familiar with the matter told Bloomberg.
The uptick in spot Bitcoin ETF applications comes following the Bitcoin ETF approvals in the United States, which have seen some $53 billion in assets under management (AUM) accrued across eleven separate products.
