Subnostr

VanEck have been approved to list the VanEck Bitcoin ETF on the ASX ( Australian stock exchange) platform on the 20th of June

The current etf was listed on the Cboe Australia Exchange by MonoChrome Asset Management

The current rules for Australian retirement accounts prevents them from allocating to instruments not on the ASX. There are trillions of dollars that will now have access to bitcoin

Probably nothing

Before someone goes viral on not your keys not your corn. This is better than not having corn in some form. This money is locked away in funds until you are 67 and is typically invested in mutual funds etc that returns about 8% a year. Unless you have a self managed fund which the greater populous do not have.

#austriches

#bitcoin

Reply to this note

Please Login to reply.

Discussion

Bender 1y ago

Great news.

I doubt Aussie super funds will use it.

However this may be very popular with SMSF.

bevo 1y ago

My super fund is adding it. So it looks promising. I will use it as I can’t have a smsf being a non resident at present. The Australian government ensuring I won’t get ahead of the curve

If you have SMSF and don’t want to self custody then yes

Bender 1y ago

Good to hear your super fund is adding it!!!!!

bevo 1y ago

Yep been pushing for this for the last 3 yrs

🐢 1y ago

One step at a time, bitcoin marches onward.

Now the question becomes how long before the retirement account purveyors decide to add a #bitcoin allotment to the “volatile” or “high risk higher return” check box for those biweekly auto deposits, and at what percentage is that allotment?

Does the silverback make the move first and allow the smaller clients to test the waters, or does some upstart competitor make the move and start to show better performance and take some market share to force the old timers hand?

When do employers start advertising to prospective employers that their retirement plan outperforms some other competitor company looking at the same talent pool?

The train is picking up steam, it doesn’t make many stops, the faster it goes the harder it becomes to hop on and hold on.

The educated Individuals and self managers have the opportunity to hold their own keys or migrate to these new etfs, but the real momentum comes when then uneducated masses have their employer make the choice for them. Then some plebs money just gets DCA’d every two weeks, for forty years, without them ever even thinking about it.

bevo 1y ago

Yep

Splintern 1y ago

I agree for normies... But for most #AUStriches on Nostr though... Get an SMSF... Put those sats in cold storage.