Golden Finance reports that new trends have emerged in the Australian cryptocurrency investment sector. Official disclosure information shows that as of June 13, the Australian Monochrome Spot Bitcoin ETF (IBTC) has seen its holdings rise to 749 Bitcoins, with a market value of approximately 221 million Australian dollars.
Since its launch earlier this year, Monochrome’s IBTC has been continuously buying Bitcoin, with its holdings steadily increasing, reflecting the ETF’s active layout in the cryptocurrency market. During the same period, another spot Bitcoin ETF in Australia – VanEck Bitcoin ETF, which was approved for listing on the Australian Securities Exchange (ASX) on June 20th, has also attracted a large amount of funds. Currently, its asset under management (AUM) has reached 40.72 million US dollars.
The Australian cryptocurrency market has developed rapidly in recent years. With the gradual improvement of the regulatory framework, investors’ confidence in cryptocurrencies has increased. In 2024, after the United States approved spot Bitcoin ETFs, the Australian Securities Exchange promptly followed suit. This move significantly enhanced the legitimacy and recognition of cryptocurrencies in Australia, and institutional investors flocked in. According to statistics, since the ETF was approved, approximately 37 billion US dollars (about 60 billion Australian dollars) of funds have flooded into the Australian cryptocurrency market.
In terms of the price trend of Bitcoin, since the beginning of this year, the price of Bitcoin has fluctuated sharply and has generally shown an upward trend. The price was around $42,000 at the beginning of the year. By the end of the year, it had soared to $93,000, with an increase of up to 120%, and even once exceeded the $100,000 mark. Some analysts are optimistic about its future trend. For instance, VanEck predicts that the price of Bitcoin is expected to reach $180,000 (approximately 290,000 Australian dollars) in the first quarter of 2025.
The significant increase in the holding volume of the Monochrome Spot Bitcoin ETF this time may imply its recognition of the current market value of Bitcoin, or it may also indicate optimism about the future price trend of Bitcoin. With the continuous changes in its holdings, how it will affect the supply and demand relationship and price trend of the Australian cryptocurrency market and even the global Bitcoin market in the future is worth close attention from all market participants.
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