Australian Stock Exchange Expects to Approve Spot Bitcoin ETF by the End of 2024

According to a source who wishes to remain anonymous, Australia will follow in the footsteps of the United States and Hong Kong by launching a Bitcoin ETF. ASX Ltd., which handles about 80% of the country's stock trading, is expected to approve the first batch of spot Bitcoin ETFs on the main board by the end of 2024. A spokesperson for BetaShares, headquartered in Sydney, said in an interview that they are working to launch a product on the Australian Securities Exchange. Another local company, DigitalX Ltd., stated in its half-year results in February that it has applied. Justin Arzadon, the head of BetaShares' digital assets, said that the inflow of funds from the United States proves that digital assets will continue to exist. Arzadon added that the company has reserved ASX stock codes for spot Bitcoin and spot Ethereum ETFs.