It is reported that Australia’s largest stock exchange – the Australian Securities Exchange

Australia’s largest stock exchange – the Australian Securities Exchange (ASX) – has reportedly approved its first cash exchange-traded fund (ETF), with trading expected to begin on June 20.

Investment firm VanEck will be the issuer of a spot Bitcoin ETF – the VanEck Bitcoin ETF – according to a report from Bloomberg dated June 14. This comes just months after the company received approval to begin trading its Bitcoin exchange-traded fund, VanEck Bitcoin Trust (HODL), in the United States on January 11.

Arian Neron, CEO of VanEck in the Asia Pacific region, confirmed that there is growing demand for exposure to Bitcoin in Australia, particularly through a “regulated, transparent and familiar investment vehicle”.

“We recognize that Bitcoin is an emerging asset class that many advisors and investors want to access,” Neron said in a statement cited by Bloomberg.

While this is the first time a spot Bitcoin ETF has been approved by the ASX, there have been two other instances where Bitcoin ETFs have launched in Australia in the past two years.

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The Unibody Bitcoin ETF (IBTC) was recently approved and began trading on Australia’s second largest exchange, Cboe Australia.

The Monochrome Bitcoin ETF began trading when markets opened on the Cboe Australia exchange on June 4.

Monochrome said IBTC holdings are stored offline on an offline device and using a cryptocurrency custody solution that meets “Australian regulatory standards for institutional custody.”

In April 2022, the Global X 21 Shares Bitcoin ETF (EBTC) became the first Bitcoin ETF product to debut in Australia.

Cointelegraph reached out to VanEck for comment but did not receive a response in time for publication.

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