DigitalX Announces Launch of Spot Bitcoin ETF on ASX with K2 Asset Management and 3iQ Partnership

July 10, 2024 BACK TO NEWS

DigitalX Limited has unveiled plans for the launch of its highly anticipated spot Bitcoin ETF, scheduled to commence trading on the Australian Securities Exchange (ASX) under the ticker "BTXX" on Friday, July 12, 2024, at 10:00 AM AEST. This landmark offering marks a significant milestone for the Australian digital asset investment market.

Partnership and Strategic Alliance

DigitalX has strategically partnered with ASX-listed K2 Asset Management, which will act as the Responsible Entity and issuer of the ETF. Leveraging its extensive experience in managing ASX-listed ETFs and compliance systems, K2 Asset Management ensures robust regulatory adherence and operational efficiency.

Furthermore, DigitalX has joined forces with 3iQ, a renowned global digital asset manager, to promote and distribute the ETF both domestically in Australia and internationally. With a proven track record in managing and distributing digital asset ETFs globally, 3iQ's involvement strengthens the ETF's market reach and accessibility.

CEO’s Enthusiasm and Market Impact

In a press release dated July 9, DigitalX CEO Lisa Wade expressed her excitement about the upcoming launch, emphasizing its significance for both DigitalX and the broader Australian digital asset investment landscape. "We are pleased to deliver this spot Bitcoin ETF to the Australian market, marking a pivotal moment for our business and digital asset investors in Australia," Wade stated.

Highlighting DigitalX's extensive track record in managing digital assets globally, Wade underscored the ETF's role in providing secure and cost-effective access to Bitcoin, eliminating the complexities associated with digital wallets.

Pioneering Initiative in Australian Market

The DigitalX spot Bitcoin ETF stands out as one of the first ETFs of its kind to be listed on the ASX in over six years, following recent launches of similar products in the United States earlier this year. Trading under the symbol "BTXX," the ETF offers investors direct exposure to Bitcoin through a regulated and liquid fund structure, facilitating seamless integration of digital assets into diversified investment portfolios.

Reflecting on DigitalX's decade-long journey since its ASX listing, Toby Hicks, Chair of DigitalX, remarked on the company's evolution and growth within the digital asset markets. "As we celebrate a decade since DigitalX's ASX listing, the approval of the DigitalX spot Bitcoin ETF underscores our commitment to advancing digital asset investments in a compliant and secure manner," Hicks noted.

Future Outlook and Strategic Vision

Looking ahead, DigitalX remains focused on driving innovation and expanding its footprint in digital asset investments. The collaboration with K2 Asset Management and 3iQ represents a pivotal step towards enhancing investor accessibility and regulatory compliance within the digital asset ETF space.

With the launch of the DigitalX spot Bitcoin ETF imminent, stakeholders anticipate broader market implications and increased investor participation in digital assets, underscoring Australia's evolving role in the global cryptocurrency landscape.

Conclusion

As DigitalX prepares to introduce the BTXX ETF on the ASX, the initiative underscores the company's commitment to fostering innovation and regulatory compliance in digital asset investments. Stay tuned as the ETF launch approaches, marking a significant milestone in Australia's digital asset market evolution.