Australia is set to launch its first spot Bitcoin exchange-traded funds (ETF) through VanEck on the Australian Securities Exchange (ASX) on June 20, offering investors a new way to engage with the cryptocurrency.

The ETF will provide direct Bitcoin exposure, a move that reflects the growing acceptance of digital currencies in the mainstream financial sector globally.

This product aims to offer a secure and regulated investment option, addressing common concerns about the volatility and security of cryptocurrency investments.

Following the successful introduction of Bitcoin and Ether ETFs on the CBOE in 2022, VanEck’s Bitcoin ETF represents a cautious yet progressive step in integrating digital assets into Australia’s financial ecosystem.

Australia’s spot ETF approval follows the launch of 11 spot Bitcoin ETFs in the U.S. earlier this year.

The U.S. SEC piled on to the positive momentum last month by approving the sale of spot Ether ETFs in the United States.

Unlike derivative-based crypto ETFs, this spot Bitcoin ETF will hold actual Bitcoins, thereby connecting traditional financial markets with the burgeoning crypto industry.