Photo credit: The Byteline (AI-generated)

Australian investors will get another trading option on the country’s main stock market as the platform debuts its second spot Bitcoin exchange-traded fund (ETF).

The new Bitcoin ETF from DigitalX Limited, a West Perth-based digital asset management firm, will commence trading on July 12 on the Australian Securities Exchange (ASX) under the ticker BTXX, the company revealed on July 9.

The DigitalX Bitcoin ETF will provide ASX customers with “direct access to Bitcoin via a regulated and liquid fund structure,” Lisa Wade, chief executive of DigitalX, said in a statement, adding:

“Our offering will enable Australians to invest in Bitcoin, without having to manage digital wallets, in a cost-effective and secure manner.”

DigitalX partnered with K2 Asset Management, an ASX-listed asset management firm, to serve as the Responsible Entity and Issuer for the spot Bitcoin ETF. Additionally, digital asset investment firm 3iQ will join DigitalX in promoting and distributing the fund in Australia and internationally.

Founded in 2014, DigitalX Limited is an Australian company specializing in blockchain technology solutions and digital asset management. According to PitchBook, while the company operates across product development, asset management, and other segments, its primary revenue stream comes from developing blockchain-based products and services.

“As we celebrate 10 years since the listing of DigitalX on the ASX, it is exciting to see the growth and development of the digital asset markets reflected in this approval for the DigitalX spot Bitcoin ETF to be quoted on the ASX,” said DigitalX Chair Toby Hicks.

He added that DigitalX has a decade of experience in the digital asset market and is poised to lead the development of compliant and secure investment options in this space.

The debut of DigitalX’s BTXX comes three weeks after the first spot Bitcoin ETF launched on the ASX. VanEck’s VBTC is reportedly a feeder fund for the asset manager’s Bitcoin Trust in the United States.

As reported by The Byteline, Australian fund manager Betashares is also looking to issue a Bitcoin fund on the major stock exchange.

Read more: Bitcoin ETFs hit 21-day high with $295M in net inflows