Australia's DigitalX to launch spot bitcoin ETFs on ASX

FILE PHOTO: Illustration of bitcoin and price chart

(Reuters) - Australia's DigitalX said on Tuesday that it has obtained approval to list its spot bitcoin exchange-traded fund on the Australian Securities Exchange.

The ETF will operate under the ASX ticker BTXX, and will commence trading on Friday, according to a press statement.

K2 Asset Management will act as the issuer of the ETF and digital asset manager 3iQ will promote and distribute the ETF domestically and internationally.

"Our offering will enable Australians to invest in Bitcoin, without having to manage digital wallets, in a cost effective and secure manner," DigitalX Chief Executive Officer Lisa Wade said in the statement.

(Reporting by Archishma Iyer in Bengaluru; Editing by Mrigank Dhaniwala)