Australia's first *ASX* Bitcoin ETF closes first day of trading with$1.9m volume
Yesterday VanEck's new Bitcoin ETF (VBTC) debuted on the ASX, making it the first Bitcoin ETF available to trade on the ASX.
$VanEck Bitcoin ETF(VBTC.AU$ rose 1% from its opening price to $20.06 (US$13.4) after trading 99,791 shares, closing its first day of trading with $1.9 million (US $1.3 million) in trading volume.
There have been some past additions to Australia's Bitcoin ETF collection, including the most recent $Monochrome Bitcoin Trust ETF(IBTC.AU$.
What makes VBTC different is that it available to trade on the ASX, compared to it's smaller, lesser known counterpart CBOE. Additionally, this ETF invests in the company's Bitcoin Trust (HODL), rather than holding direct shares of Bitcoin.
Crypto investing can be more volatile and less regulated compared to traditional trading, which is a key reason why many choose to invest indirectly through ETFs.
In fact, according to Finder's 2024 Cryptocurrency Consumer Report, 50% of Australian crypto owners said the security and reputation of an exchange is the most important feature to them, making it the top feature in 2024.
What do you prefer, directly investing in crypto or through an ETF?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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