Australia Stock Exchange Expected to Launch Spot Bitcoin ETFs in 2024

The Australian Securities Exchange (ASX), the country's largest stock exchange, is considering listing its first approved batch of spot bitcoin exchange-traded funds (ETFs) by the end of 2024.
Anonymous sources familiar with the matter told Bloomberg that Bitcoin ETF applications submitted earlier this year from VanEck Australia and local ETF-focused fund manager BetaShares are expected to be approved before the year ends, following in the footsteps of fund issuers in the US and Hong Kong.
Approximately 80% of local trades, which represent four-fifths of Australia’s stock transactions, are managed by ASX, Australia's leading equity exchange. ASX had a $2.7 trillion domestic market capitalization as of March.
Justin Arzadon, head of digital assets at Sydney-based BetaShares, said his company is preparing to introduce an ETF for cryptocurrencies on the Australian Stock Exchange. A bitcoin-spot ETF and an ethereum-spot ETF will have their own ASX tickers.
In February, DigitalX Ltd., another local firm operating in Australia, announced in its half-yearly report and accounts that it had submitted an application for a Bitcoin ETF. 
An ASX representative did not provide an exact approval date for the launch of spot Bitcoin ETFs. However, stated that the exchange continues to engage with a number of issuers interested in launching crypto ETFs."
Additionally, Hong Kong is anticipating the release of its first batch of spot ether and bitcoin ETFs. Following the first approval on April 15, six funds will be formally listed on April 30.
Despite the estimated size of the market being much smaller than that of the United States, Eric Balchunas, senior ETF analyst at Bloomberg, stated earlier this month that Hong Kong's approval is a significant positive development for the cryptocurrency industry.

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