Among the major news on Australian stocks, DigitalX Limited (AU:DCC) announced that its Spot Bitcoin ETF is set to debut on the ASX (Australian Securities Exchange). The company has received regulatory approval to launch its DigitalX Bitcoin ETF, which is scheduled to be listed on July 12 under the ticker BTXX.
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In connection with this announcement, the company suspended trading of its shares on Tuesday.
DigitalX is a technology and investment company specializing in digital assets like Bitcoin (BTC-USD).
A Little About ETFs
ETFs are collections of similar assets in a single fund. They offer diversification like mutual funds and can be easily traded. Meanwhile, Bitcoin ETFs combine Bitcoin-related assets, providing investors with an opportunity to invest in cryptocurrency without owning them.
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More About DigitalX’s Spot Bitcoin ETF
Following the approval of VanEck’s Bitcoin ETF (AU:VBTC) in June 2024, DigitalX became the second company in Australia to gain approval for a Bitcoin ETF.
According to the company’s announcement, the DigitalX Bitcoin ETF will offer investors direct exposure to Bitcoin in a regulated and cost-effective way. With this fund, investors can gain access to the growing digital asset sector without requiring to maintain a digital wallet.
The DigitalX Bitcoin ETF is being launched in collaboration with K2 Asset Management and Canada-based digital assets company 3iQ. K2 Asset Management will serve as the ETF’s issuer, while 3iQ will handle its promotion and distribution in domestic and international markets.
Year-to-date, DigitalX shares have lost 8.3% in trading.
