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Australia Approves Long-Awaited Spot Bitcoin ETF
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investopedia.comAfter months of industry consultation, Australia's securities watchdog, the Australian Securities and Investments Commission (ASIC), has given the green light to long awaited spot exchange-traded funds (ETFs) in the world's two largest cryptocurrencies, Bitcoin and Ethereum.
The approval will allow Australian investors to gain direct exposure to the physical assets' price through funds that trade on the Australian Securities Exchange (ASX). It also cements Australia's intent toward digital innovation and opens the door for regulators in other jurisdictions to fast-track spot crypto ETFs as the asset class continues to gain momentum with investors.
ASIC last week released a set of best-practice guidelines and requirements that fund issuers
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