Trading Volume of ASX’s First Bitcoin ETF Exceeds $1.3M on First Session

Australia’s main stock exchange, the Australian Securities Exchange, saw its first Bitcoin exchange-traded fund (ETF) debut with a modest trading volume of $1.3 million.

This pales in comparison to the United States’ spot Bitcoin ETFs, which recorded a total trading volume of $4.5 billion on their first day, averaging $450 million per fund.

VanEck, the issuer of the VanEck Bitcoin ETF (VBTC), remains optimistic about the potential growth of the fund despite the size difference between the Australian and US markets.

VanEck’s deputy head of investments and capital markets, Jamie Hannah, shared with Cointelegraph that there is a possibility that the Australian market may experience a similar trend as the US market.

Hannah added that there has been significant interest from both retail and professional investors in gaining exposure to Bitcoin through ASX. On its first day of trading, VBTC opened at $13.24 and closed at $13.34, with a total of 96,476 shares traded throughout the day according to ASX data.