BlackRock nears launch of Australian Bitcoin ETF

BlackRock, the world’s largest asset manager with $13 trillion in assets under management (AUM), is preparing to launch a Bitcoin exchange-traded fund (ETF) in Australia, according to the Financial Standard. The debut is expected in mid-November. BlackRock said the move comes in response to growing demand for Bitcoin ETFs from Australian institutional investors seeking portfolio diversification. The planned launch aims to meet this rising demand. BlackRock’s decision to introduce a Bitcoin ETF comes amid tighter regulatory oversight of Australia’s crypto sector. Late last month, authorities unveiled new rules classifying most digital assets, including stablecoins, wrapped tokens, security tokens, and wallets, as financial products.