The Australian Securities And Investments Commission (ASIC) has given early approval to fund managers seeking to launch Bitcoin spot exchange traded funds (ETFs), according to Business Insider.

Many Australian funds have already begun the application process after ASIC green lit the spot ETFs. After months of consulting with experts in the Bitcoin and crypto industry, the corporate regulators issued new guidance for the space, and detailed a draft of regulatory requirements for funds eager to offer Bitcoin spot ETFs.



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