In a new news published by Bloomberg, the Australian Securities Exchange (ASX) will open more than once in 2024. Bitcoin ETFIt was suggested that he would approve it. Citing experts in the industry, Bloomberg refrained from giving a clear date for when these approvals would take place.
As reported by Koinfinans.com, it is based in Brisbane. cryptocurrency Monochrome Asset Management, a focused investment management firm, has approached Cboe Australia, a smaller ASX rival, for a spot Bitcoin ETF. This product is expected to be available in the second quarter of the year after receiving approval from the Australian Securities and Investments Commission (ASIC).
In 2022, North Sydney-based cryptocurrency fund manager Cosmos Asset Management will launch spot BTC and Ethereum ETFHe launched his . However, later in the same year, it had to delist these products due to low demand. However, the launches of these ETFs coincided with the collapse of the Terra ecosystem, resulting in almost no demand. In November 2022, the industry had to face one of its most serious crises to date with the collapse of FTX.
In 2024, cryptocurrency market conditions look much more favorable for Bitcoin ETFs, with Bitcoin still trading near record highs despite a significant price pullback.
BTC ETFs have become the talk of the town following their highly anticipated approval in the US. BlackRock’s Bitcoin ETF has achieved stunning success, shattering several records. But lately these ETF products have been suffering from increased outflows.
Spot Ethereum and Bitcoin ETFs were officially approved in Hong Kong earlier this March. However, some analysts have warned market observers that these products are unlikely to attract significant inflows.
