The Australian Securities Exchange (ASX) listed the VanEck Bitcoin exchange-traded fund on Thursday, making it the platform’s first spot bitcoin ETF.

The VanEck Bitcoin ETF, which trades under the VBTC ticker symbol, had total net assets of around 982,850 AUD ($655,560) as of Wednesday, according to VanEck’s website. VBTC operates as a feeder fund, allowing investors to gain exposure to bitcoin by investing in the U.S.-listed VanEck Bitcoin Trust (HODL). 

“While it has been possible to trade Bitcoin via crypto exchanges, trading units with exposure to Bitcoin via an ETF on an exchange like ASX means you’re able to buy and sell those units through a traditional brokerage account, simplifying the process and opening the opportunity to more Australians,” Andrew Campion, general …