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VBTC - VanEck Bitcoin ETF

Sean K

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(not sure of code yet)​

Bitcoin ETF – VanEck to launch on ASX​

March 2024

Arian Neiron, CEO and Managing Director, VanEck Asia Pacific, has made the following comments on the prospect of a Bitcoin ETF on ASX.

“Since the US SEC ruling, we’ve experienced a significant uptick in queries and requests from the adviser and broker community regarding our submission to ASX to launch a Bitcoin ETF. The demand for access to Bitcoin via a listed vehicle traded on ASX has been increasing and many of our clients have told us that their clients are already positioned to have an allocation ready to invest.”

“Bitcoin has been transformed with access in a regulated structure, namely an ETF, in the US which is a significant step in the evolution and mainstream acceptance of Bitcoin around the world. However, contrary to some representations that have recently been made to the media, approval for an ASX listed Bitcoin ETF is not imminent. There are still a number of hurdles from a regulatory and exchange framework perspective that must be worked through as well as approval from ASIC, before we will see a Bitcoin ETF on ASX.”

“What we do know is that there is a higher level of scrutiny and only fund managers that have the experience, capability, resources and investing pedigree will be accepted for admission.”

“VanEck is uniquely placed to launch the first Bitcoin ETF on ASX. We have a long-standing and deep heritage in investing in gold and so store-of-value investing is in our DNA. We see Bitcoin as a form of digital gold. In the US the firm was the first established ETF issuer to file for a futures-based Bitcoin ETF in 2017 and followed that up with a filing for a spot Bitcoin ETF in 2018. Despite regulatory headwinds in the U.S., the firm’s digital assets efforts continued with product development and investment globally. The firm’s European arm currently manages 12 crypto ETPs, and its MarketVector index subsidiary was the first to launch a definitive suite of digital asset indexes with its flagship Bitcoin & Ethereum Benchmark Rates.”

“We have been engaged with bringing a spot Bitcoin ETF to ASX since early 2021. We were the first fund manager to work with the regulator and exchange on the mechanics, and the first to formally lodge a submission for a Bitcoin ETF to ASX. We resubmitted our Bitcoin ETF application to the ASX in February this year. We are known for our innovation in funds management and plan on bringing the first Bitcoin ETF to ASX investors.”

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the deal with this ETF is that it is ASX listed, not just on Cboe.
and ....

...to remain competitive, Global X slashed fees for its bitcoin and ethereum ETFs from 1.25 per cent to 0.59 per cent, matching VanEck’s offering.

By comparison, Nasdaq-listed iShares Bitcoin Trust, the most widely held cryptocurrency ETF globally, charges 0.25 per cent. (US; so there are currency issues)
 
I came across this article by Glenn Freeman on Market Index. It provides not only a good summary of this ETF but also a good explanation of BTC and alternates such as ETH for those unfamiliar with Crypto.


gg
 
It is a gamble @Sean K .

I don't like chasing runaway gaps, it's great if you are in one, but entering is another matter, especially with new AT highs and no resistance lines to which you can refer.

Just a quick look at the range on the chart above 1600 to 2200 is a 600, and adding that to 2200 you'd expect some consolidation at 2800, which shows on yesterdays indecision bar. But, hey, I've a mixed result on predicting the future.

gg
 
Hoping for this to be my December Stock Tipping selection if the rules allow it. This is buying bitcoin trough an ETF and is an easy way to do via the ASX. My thoughts are bitcoin will surge for a period of time with Trump pushing digital currency in the US. I doubt I will ever own bitcoin as I still struggle to see something which has no fundamentals, return and is driven higher by more people wanting it. While is does not have any concievable value, many people have made a lot of money from bitcoin such as banana boy who bought a banana duct taped to a board for 6 odd million dollars. He then ate the banana. Probably a good paradigm of something no value that people are willing to pay a lot of money for. Hope he enjoyed the banana, but he apparently worth 2 billion from bitcoin.

Iggy
 
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