- This Thursday, the Australian Securities Exchange (ASX), the largest stock exchange in Australia, is set to list the VanEck Bitcoin ETF, making it easier for investors to gain exposure to Bitcoin.
- This milestone signifies the growing interest and mainstream acceptance of Bitcoin investments among Australian investors. The broader cryptocurrency market is poised for significant developments this week.
- Noteworthy events include the listing of Australia’s first Bitcoin ETF, a speech by the Chairman of the U.S. Federal Reserve, and the release of PMI data for the U.S. manufacturing and services sectors, all capturing investor attention.
Explore the latest developments in the crypto market as Australia lists its first Bitcoin ETF, alongside significant global economic updates.
ASX Lists VanEck Bitcoin ETF
VanEck’s Asia-Pacific CEO, Arian Neiron, expressed enthusiasm about the increasing interest in Bitcoin as an emerging asset class. He emphasized that the ETF offers investors exposure to Bitcoin through a “regulated, transparent, and familiar investment vehicle.” This listing follows the success of Bitcoin ETFs in the U.S., which have accumulated $58 billion to date. VanEck’s product will compete with those from industry giants such as BlackRock Inc. and Fidelity Investments.
Demand for Bitcoin ETFs in Australia
Although demand for Bitcoin ETFs in Australia has not reached the levels seen in the U.S., this development marks a significant milestone for investors. Other financial firms, including Sydney-based BetaShares Holdings Pty and DigitalX Ltd., also plan to list Bitcoin ETFs on Australia’s primary stock exchange.
Key Crypto Developments This Week
This week is packed with important events that could impact the cryptocurrency market:
- 17 June, Monday:
- European Central Bank President Speech: Christine Lagarde will discuss European economic conditions and monetary policy.
- Federal Reserve Officials Speak: Various officials will provide insights into U.S. economic conditions and monetary policy.
- APE Unlocking: 16.2 million ApeCoin (APE) tokens will be released into the market.
- CHZ Hard Fork: Chiliz (CHZ) will undergo a hard fork named Dragon8.
- Binance Delists XEM, WAVES, OMG: Binance will remove NEM (XEM), Waves (WAVES), and OMG Network (OMG) from its platform.
- 18 June, Tuesday:
- Federal Reserve Official Speech: Another Federal Reserve official will discuss the U.S. economy and monetary policy.
- European Inflation Data: The European Union will release inflation data for May.
- U.S. Retail Sales: Data for U.S. retail sales in May will be published.
- Federal Reserve Officials Speak: Additional speeches from officials about U.S. economic policy.
- MANTA Unlocking: 8.33 million Manta Network (MANTA) tokens will be released.
- 19 June, Wednesday:
- U.S. Holiday: Official holiday in the United States.
- PIXEL Unlocking: 19.3 million Pixel (PIXEL) tokens will enter the market.
- 20 June, Thursday:
- U.S. Unemployment Claims: Weekly unemployment benefits data will be released.
- Federal Reserve Official Speech: Further discussions from a Federal Reserve official on economic policy.
- 21 June, Friday:
- U.S. PMI Data: Manufacturing and services sector PMI data for the United States will be disclosed.
- Federal Reserve Monetary Policy Report: The Federal Reserve will publish a report detailing the outcomes of its monetary policy committee meeting.
Conclusion
This week marks a significant period for the cryptocurrency market, highlighted by the listing of Australia’s first Bitcoin ETF on ASX. This development underscores the growing institutional acceptance of Bitcoin. As investors navigate through a series of major global economic events, the market will be closely monitoring these updates to gauge potential impacts on their investment strategies.
