VanEck's Bitcoin ETF, the first to invest directly in Bitcoin, has launched on the Australian Securities Exchange (ASX).
The ETF's entry has initiated a price war among ETF providers, with fees being a major competitive factor.
Global X has matched VanEck's fee of 0.59%, after VanEck introduced the lowest-cost Bitcoin ETF on the market
The VanEck Bitcoin ETF, known as VBTC, is a feeder fund for the US-based VanEck Bitcoin Trust, and started with a seed investment of approximately $985,000.
The launch is seen as a response to growing customer demand for cryptocurrency assets and follows similar ETF debuts in the US and Hong Kong.