Announcement: Bitcoin ETF

We welcome ASIC's report and commend their move in deciding to help facilitate crypto-asset ETPs in Australia. We are looking at offering investors a spot-based Bitcoin ETF, and VanEck expects to be the leading global ETF provider to launch a Bitcoin ETF in Australia.

This represents a huge move forward as investors will finally be able to access Bitcoin though a cost-effective, liquid investment vehicle. No more need for specialist exchanges, passwords and digital wallets to invest in digital assets.

ASIC's move will allow Australia to become a leading jurisdiction globally offering cryptocurrency backed funds. At the moment, VanEck envisages just Bitcoin and Ether products, however, as other digital assets mature, we expect the scope to broaden.

We would expect a flood of money in this emerging asset class given the accessibility and liquidity ETFs offer investors of all kinds, compared to convoluted process of trading digital currencies directly.

VanEck Australia will leverage our global reach, expertise and infrastructure in offering Australian investors the best-in-class cryptocurrency solution.

We have listed a range of digital currency exchange traded notes (ETNs) in Europe, and have launched an ETF on the NASDAQ, which invests in companies at the forefront of the digital assets transformation.

In Australia, we will extend on our mantra of ‘Access the opportunities’ and believe any ETF we offer here will democratise holding cryptocurrency assets for all types of investors. The ETF vehicle is the optimal delivery mechanism and we look forward to working with the exchange to further innovate and provide this unique opportunity.

    -    Arian Neiron, CEO & Managing Director, VanEck Asia Pacific